C&D Technologies, Inc. Buyout Proposal Under Investor Investigation

If you are a current investor in C&D Technologies, Inc. (Public, PINK:CHHP) and purchased your C&D Technologies, Inc. (Public, PINK:CHHP shares prior to the announcement, and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
C&D Technologies
Affected Securities: 

After C&D Technologies announced that it received a proposal to be taken over by affiliates of Angelo, Gordon & Co., LP, at $9.50 per share in cash an investigation on behalf of investors of C&D Technologies, Inc. (PINK:CHHP) was initiated concerning whether the offer to take C and D Technologies, Inc. and the sale process would be unfair to investors of C&D Technologies (CHHP) and whether certain of its officers and directors or others breach their fiduciary duties owed investors in PINK: CHHP shares.

The investigation by a law firm concerns whether the C&D Technologies, certain of its officers and directors, and/or others breached their fiduciary duties owed to C&D Technologies (PINK: CHHP) investors in connection with the proposed takeover.

On Thursday, June 16, 2011, C&D Technologies, Inc. (OTC: CHHP) announced that early the same day it had received a non-binding proposal for a going private transaction from affiliates of Angelo, Gordon & Co., LP, at $9.50 per share in cash.

Following the takeover announcement CHHPstock rose from $8.24 on Wednesday to $9.45 on Thursday.

However, since Angelo, Gordon & Co., LP already holds approximately 65% of C&D Technologies' common stock,
the investigation concerns whether the C&D Technologies Board of Directors unterdtakes an adequate and in particular breachtheir fiduciary duties to the C&D Technologies (CHHP) shareholder by failing to adequately shop the Company before entering into the transaction.

The investigation concerns also whether affiliates of Angelo, Gordon & Co., LP would underpay for PINK:CHHP shares, thus unlawfully harming C&D Technologies stockholders.
In fact, C&D Technologies, Inc. performance has been improving lately. C&D Technologies, Inc. was able to increase its annual Revenue from $335.71million for 12months ending on Jan 31, 2010 to $354.83million for 12 months ending on January 31, 2011. It was also able increase its 3months Revenue from $84.70million ending on April 30, 2010 to $88.31million ending on April 30, 2011.

Therefore a potential securities class action lawsuit would seek to maximize the amount of money and information PINK:CHHP shareholders would receive in a buyout, so the law firm.