August 22, 2018 - The case was voluntarily dismissed.
July 6, 2018 - An investor, who currently holds shares of KLX Inc. (NASDAQ: KLXI), filed a lawsuit in effort to halt the proposed takeover of KLX Inc. by The Boeing Company for $63.00 per share.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: KLXI stockholders by agreeing to sell KLX Inc. cheaply via an unfair process.

Wellington, FL based KLX Inc., together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. On May 01, 2018, KLX Inc. (NASDAQ:KLXI) announced its intention to sell its Aerospace Solutions Group business to The Boeing Company and to spin-off to KLX shareholders its Energy Services Group business. KLX announced that the Company has entered into a definitive agreement to sell the Aerospace Solutions Group to The Boeing Company for $63.00 per share in cash. The transaction with Boeing is valued at approximately $4.25 billion, including the assumption of approximately $995 million in net debt.

However, plaintiff claims that the proposed consideration NASDAQ:KLXI shareholders will receive is grossly inadequate and undervalues KLX Inc.. Indeed, at least one analyst has set the high price target at $80.00 per share and NASDAQ:KLXI shares reached in the open market as recently as April 27, 2018 as high as $82.50 per share. KLX Inc. reported that its Total Revenue rose from over $1.49 billion for the 12months period that ended on January 31, 2017 to over $1.74 billion for the 12 months period that ended on January 31, 2018 and that its Net Income for those respective time periods increased from $48.2 million to $53.4 million. In addition, the plaintiff alleges that the process is also unfair NASDAQ: KLXI stockholders