Bernstein Liebhard LLP Announces Investigation of Acquisition of General Bearing Corporation by SKF Group
Feb. 13, 2012
Bernstein Liebhard LLP is investigating whether the Board of Directors of General Bearing Corporation (“General Bearing” or the “Company”) (OTC: GNRL.PK) breached its fiduciary duty to its shareholders in agreeing to sell General Bearing to SKF Group.
Under the terms of the agreement, General Bearing shareholders will receive $28.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to General Bearing shareholders and the process by which the General Bearing Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as a General Bearing shareholder and/or have information relating to the matter, please contact U. Seth Ottensoser at (877) 779-1414 or Ottensoser@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.