SAN DIEGO – Zeldes & Haeggquist, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible legal claims against the Board of Directors of Lufkin Industries Inc. (“Lufkin”) (NASDAQ: LUFK), regarding possible breaches of fiduciary duties and other violations of law related to Lufkin’s entry into an agreement to be acquired by General Electric Co. (“GE”) (NASDAQ: GE) in a transaction valued at approximately $3 billion.

Zeldes & Haeggquist’s investigation concerns whether Lufkin’s Board of Directors failed to adequately shop Lufkin to obtain the best possible value for Lufkin’s shareholders before entering into an agreement with GE.  Under the terms of the proposal, public shareholders of Lufkin will receive $88.50 per share in cash.

If you own common stock of Lufkin and purchased your shares before February 10, 2013, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at aarono@zhlaw.com or ambere@zhlaw.com.