Haynes International, Inc.

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Ademi LLP is investigating Haynes (NASDAQ GM:HAYN)  for possible breaches of fiduciary duty and other violations of law in its transaction with Acerinox.

In the transaction, Haynes shareholders will receive only $$61.00 per share in an all-cash transaction valuing the Company at an enterprise value of approximately $970 million. The transaction agreement unreasonably limits competing transactions for Haynes by imposing a significant penalty if Haynes accepts a competing bid. Haynes insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Haynes’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.