Law Office of Brodsky & Smith, LLC Announces Investigation of Lufkin Industries, Inc.

  Law Office of Brodsky & Smith, LLC Announces Investigation of Lufkin
  Industries, Inc.

Business Wire

BALA CYNWYD, Pa. -- April 16, 2013

Law office of Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Lufkin Industries, Inc.
(“Lufkin” or the “Company”) (Nasdaq: LUFK) relating to the proposed
acquisition by General Electric Co. (“GE”).

Under the terms of the transaction, Lufkin shareholders will receive only
$88.50 in cash for each share of Lufkin stock they own. The investigation
concerns possible breaches of fiduciary duty and other violations of state law
by the Board of Directors of Lufkin for not acting in the Company’s
shareholders' best interests in connection with the sale process to GE. The
transaction may undervalue the Company and will result in a loss for many long
term shareholders. For example Lufkin stock traded at $89.17 as recently as
July 7, 2011 and $94.42 on April 19, 2011. In addition, Lufkin’s lift
technologies are currently utilized in 94% of the oil-producing wells
worldwide. This has resulted in Lufkin generating a record $1.3 billion in
revenues in 2012, a 37% increase from the prior year.

If you own shares of Lufkin stock and wish to discuss the legal ramifications
of the proposed transaction, or have any questions, you may e-mail or call the
law office of Brodsky & Smith, LLC who will, without obligation or cost to
you, attempt to answer your questions. You may contact Jason L. Brodsky,
Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/562-lufk-lufkin-industries-inc.html, by calling toll
free 877-LEGAL-90.

Contact:

Brodsky & Smith, LLC
Jason L. Brodsky, Esquire
Evan J. Smith, Esquire
877-LEGAL-90
investorrelations@brodsky-smith.com
http://brodsky-smith.com/562-lufk-lufkin-industries-inc.html
 
Press spacebar to pause and continue. Press esc to stop.