SL Industries, Inc. (NYSEMKT:SLI) Investor Investigation Concerning Potential Breaches Of Fiduciary Duties In Acquisition Announced

If you purchased shares of SL Industries, Inc. (NYSEMKT: SLI) and currently hold any of those NYSEMKT: SLI shares, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
SL Industries
Affected Securities: 

April 18, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of SL Industries, Inc. (NYSEMKT: SLI), was announced concerning whether the takeover of SL Industries, Inc. by Handy & Harman Ltd for $40.00 per share is unfair to NYSEMKT: SLI stockholders.

The investigation by a law firm concerns whether certain officers and directors of SL Industries, Inc. breached their fiduciary duties owed to NYSEMKT: SLI investors in connection with the proposed acquisition.

On June 18, 2015, SL Industries, Inc. (NYSEMKT:SLI) announced that the independent members of its Board of Directors have received a non-binding proposal from Handy & Harman Ltd., a publicly traded NASDAQ company, to acquire all outstanding shares of common stock of SL Industries, Inc. (NYSEMKT:SLI) for a per share price of $43.00 to $45.00.

Then on April 7, 2016, Handy & Harman Ltd. (Nasdaq: HNH), and SL Industries, Inc. (NYSE MKT: SLI) (the "Company" or "SLI") announced that they have entered into a definitive merger agreement pursuant to which HNH will acquire SL Industries, Inc. Under the terms of the merger agreement, Handy & Harman Ltd, through a wholly owned subsidiary, will commence a tender offer to purchase up to all of the outstanding shares of SL Industries, Inc common stock at a purchase price of $40.00 per share in cash.

However, given that DGT Holdings Corp., an affiliate of HNH which owns approximately 25.1% of the outstanding shares of SLI common stock, has agreed to tender those shares in the offer, the investigation concerns whether the offer is unfair to NYSEMKT: SLI stockholders. More specifically, the investigation concerns whether the SL Industries Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.