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Holzer Holzer & Fistel LLC
200 Ashford Center North
Suite 300
Atlanta, Georgia 30338
Toll Free: (888) 508-6832
Telephone: (770) 392-0090
Facsimile: (770) 392-0029
Lydall, Inc.
HOLZER HOLZER & FISTEL, LLC ANNOUNCES INVESTIGATION INTO POTENTIAL CLAIMS FOR BREACHES OF FIDUCIARY DUTY BY LYDALL, INC.’S BOARD OF DIRECTORS
ATLANTA, GA - - (Businesswire – January 9, 2012) - - Holzer Holzer & Fistel, LLC announces that it is investigating potential breaches
of fiduciary duty by certain officers and directors of Lydall, Inc. (“Lydall” or the “Company”) (NYSE: LDL). On November 8, 2011, Lydall disclosed that it had
found and corrected accounting errors relating to dividends received from a foreign subsidiary which were previously omitted from the Company’s tax reports.
In its announcement, the Company revealed that it under-recorded its tax expenses between fiscal year 2004 and the period ending June 30, 2011, and correction
of those errors lowered Lydall’s earnings by $0.04 per share for the second quarter 2011.
Holzer Holzer & Fistel, LLC’s investigation seeks to determine if Lydall’s Board breached its fiduciary duty to Company shareholders by, among other things, failing to maintain adequate internal controls.
If you have held Lydall shares since at least December 31, 2004 and would like to discuss your legal rights, you may contact Holzer Holzer & Fistel, LLC
and its attorneys Michael I. Fistel Jr., Esq. or Marshall P. Dees, Esq. via email at
mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
CONTACT:
Michael I. Fistel, Jr., Esq.
Marshall P. Dees, Esq.
Holzer Holzer & Fistel, LLC
200 Ashford Center North, Suite 300
Atlanta, GA 30338
(888) 508-6832 (toll-free)
mfistel@holzerlaw.com
mdees@holzerlaw.com