Lydall, Inc.

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Ademi LLP is investigating Lydall (NYSE: LDL) for possible breaches of fiduciary duty and other violations of law in its transaction with Unifrax.

Ademi LLP alleges Lydall’s financial outlook is excellent and yet Lydall shareholders will receive only $62.10 per share in cash for each share outstanding, implying a total enterprise value of approximately $1.3 billion. The merger agreement unreasonably limits competing bids for Lydall by prohibiting solicitation of further bids, and imposing a termination penalty if Lydall accepts a superior bid. Lydall insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Lydall’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Lydall.