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Abraham, Fruchter & Twersky, LLP Announces Investigation of Harbin Electric, Inc

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NEW YORK--(EON: Enhanced Online News)--Abraham, Fruchter & Twersky, LLP has commenced an investigation against the board of directors of Harbin Electric, Inc. (“Harbin Electric” or the “Company”) (NASDAQ:HRBN) for possible breaches of fiduciary duty and other violations of state and federal securities laws related to a proposed acquisition of Harbin Electric by the Company’s Chairman and Chief Executive Officer, Tianfu Yang (“Yang”) and Baring Private Equity Asia Group Limited (“Baring”). On a style=

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									Abraham, Fruchter & Twersky, LLP Announces
Investigation of Harbin Electric, Inc.
October 12, 2010 03:42 PM Eastern Daylight Time  

NEW YORK--(EON: Enhanced Online News)--Abraham, Fruchter & Twersky, LLP has commenced an
investigation against the board of directors of Harbin Electric, Inc. (“Harbin Electric” or the “Company”)
(NASDAQ:HRBN) for possible breaches of fiduciary duty and other violations of state and federal securities laws
related to a proposed acquisition of Harbin Electric by the Company’s Chairman and Chief Executive Officer, Tianfu
Yang (“Yang”) and Baring Private Equity Asia Group Limited (“Baring”).

On October 11, 2010, Harbin Electric announced an offer under which Harbin Electric would be acquired by Yang
and Baring in a transaction valued at approximately $752 million. Under the terms of the proposal, Yang would
acquire all of the outstanding shares of Harbin Electric common stock not currently owned by Yang and his affiliates
for $24.00 per share in cash. The offer price represents an approximately 20% premium to Harbin’s closing price on
Friday. However, according to Thompson/First Call, at least one analyst has set a price target of $33 per share for
Harbin Electric stock. We are investigating whether Harbin Electric’s Board of Directors acted in the shareholders’ 
best interests and whether the Company undertook a fair process to obtain fair consideration for all shareholders of
Harbin Electric.

If you own shares of Harbin Electric and would like to discuss this action, or if you have any questions concerning
this notice or your rights as a potential class member or lead plaintiff, you may contact: Jack Fruchter or Arthur J.
Chen of Abraham, Fruchter & Twersky, LLP toll free at (800) 440-8986, or via e-mail at info@aftlaw.com or
achen@aftlaw.com.

Abraham, Fruchter & Twersky, LLP has extensive experience in securities class action cases, and the firm has been
ranked among the leading class action law firms in terms of recoveries achieved by a survey of class action law firms
conducted by Institutional Shareholder Services.

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.

Contacts
Abraham, Fruchter & Twersky, LLP
Jack G. Fruchter
Arthur J. Chen
(800) 440-8986

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