PMFG Board of Directors defends three cases filed by shareholders of PMFG, Inc. related to PMFG's proposed merger with CECO Environmental
Clients PMFG, Inc.
Jones Day represents the Board of Directors of PMFG, Inc. in connection with litigation filed by shareholders of PMFG in Texas and Delaware, in which shareholders allege that the PMFG Board breached their fiduciary duties by agreeing to a proposed merger with CECO Environmental Corp. without securing sufficient consideration from CECO, pursuant to a flawed process that was tiled in favor of one particular group of shareholders, and have asked the shareholders to vote on the proposed transaction without providing sufficient disclosures. The shareholders further allege that CECO and its merger-related entities aided and abetted those alleged breaches.
Bridges v. CECO Environmental Corp. (44th Judicial District, Dallas Cty., Tex.); In re PMFG Inc. Stockholder Litigation (Del. Ch.) (settled 8/23/15)