|Company name||SORL Auto Parts, Inc.|
NEW YORK, December 3, 2019 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder law firm, has launched an investigation into whether the board members of SORL Auto Parts, Inc. (NASDAQ: SORL) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed sale to Ruili International Inc.
On November 29, 2019, SORL announced that it had signed an agreement to be acquired by Ruili for $4.72 per share in cash. Bragar Eagel & Squire is concerned that SORL’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for SORL stockholders.