Published: February 13, 2012

Law Office of Brodsky & Smith, LLC Announces Investigation of General Bearing Corporation

Share This Story

BALA CYNWYD, Pa., Feb 13, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of General Bearing Corporation ("General Bearing" or the "Company") (OTC -GNRL.PK- News) relating to the proposed acquisition by SKF Group ("SKF").

Under the terms of the transaction, General Bearing shareholders would receive $28.00 in cash for each share of General Bearing stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of General Bearing for not acting in the Company's shareholders' best interests in connection with the sale process to SKF. The transaction values General Bearing at approximately $125 million. However, the transaction may undervalue General Bearing as General Bearing has approximately $100 million in current assets. This includes General Bearing's assets in four manufacturing sites in China.

If you own shares of General Bearing 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/386-gnrl.pk-general-bearing-corporation.html, or by calling toll free 877-LEGAL-90.

SOURCE Brodsky & Smith, LLC