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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Arotech Corporation (“Arotech” or the “Company”) (NASDAQ: ARTX) to Greenbriar Equity Group, L.P. (“Greenbriar”). Under the terms of the deal, an affiliate of Greenbriar will acquire all outstanding shares of Arotech common stock for $3.00 per share in cash.
The Arotech merger investigation concerns whether the Board of Arotech breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Greenbriar is underpaying for Arotech shares, thus unlawfully harming Arotech shareholders.
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