Hardinge Inc. was founded in 1890. Together with its subsidiaries, Hardinge designs, manufactures and distributes machine tools in the Americas, Europe and Asia. The Company operates through two segments: Metalcutting Machine Solutions, and Aftermarket Tooling and Accessories. It offers advanced computer-controlled Turning Machines, Grinding Machines, Machining Centers, System Integrations, Turnkey Solutions and post-sale support services including repair parts, training, in-field maintenance and repairs for machine solutions. Hardinge also engineers and supplies high precision, standard and specialty workholding devices, and other machine tool accessories.
According to the Complaint, this action stems from a proposed transaction announced on February 12, 2018(the “Proposed Transaction”), pursuant to which Hardinge Inc. (“Hardinge” or the “Company”) will be acquired by affiliates of Privet Fund Management LLC and Privet Fund LP (collectively, “Privet”).
On March 5, 2018, Defendants filed a proxy statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction.
The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.