National Technical Shareholder Fights $267M Buyout Plan

Law360, New York (September 26, 2013, 1:18 PM EDT) -- Los Angeles private equity firm Aurora Capital Group and National Technical Systems Inc. were hit with a proposed class action Tuesday by a shareholder of the aerospace and defense-oriented engineering firm claiming Aurora’s roughly $267 million deal to buy National Technical undervalues the firm.

In a complaint filed in California state court, Carlos Castillo argued that an Aurora unit’s proposed $23-a-share offer for National Technical, which was announced in August, is below the company’s fair value and claimed it was the result of pressure exerted since...
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