NEW YORK, June 25, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Xerium Technologies, Inc. ("XRM" or the "Company") (NYSE: XRM) in connection with the proposed acquisition of the Company by Andritz AG. Under the terms of the agreement, XRM shareholders will receive $13.50 in cash for each XRM share they own.
WeissLaw is investigating whether XRM's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company recently announced positive financial results. In April, XRM reported net sales of $126.1 million in the first quarter of 2018, representing an increase of 5.2% year-over-year when compared to the $119.9 million reported in the same period of the previous year.
Given these facts, WeissLaw is investigating whether XRM's Board acted in the best interests of XRM's public shareholders to maximize shareholder value prior to entering into the agreement. If you own XRM shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/xerium-technologies-inc/
SOURCE WeissLaw LLP