Robbins Umeda LLP Announces an Investigation of ATS Corporation
21 Febrero 2012 - 4:46PM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of the law by members of the board of directors of ATS
Corporation (NYSE AMEX: ATSC) in connection with their efforts to
sell the company to Salient Federal Solutions, Inc. Concerned
shareholders who would like more information about their rights and
potential remedies can contact attorney Gregory E. Del Gaizo at
(800) 350-6003, info@robbinsumeda.com, or via the shareholder
information form on the firm's website.
On February 21, 2012, ATS Corporation announced that it had
entered into a definitive merger agreement pursuant to which
Salient Federal Solutions will acquire all outstanding shares of
the company through a cash tender offer. According to the terms of
the deal, ATS Corporation shareholders will receive $3.20 for each
share of the company they own. The tender offer will commence no
later than February 28, 2012. The transaction is expected to close
late in the first quarter or early in the second quarter of
2012.
Robbins Umeda LLP's investigation focuses on whether ATS
Corporation's board is undertaking a fair process to obtain maximum
value and adequately compensate shareholders in light of the
company's recent performance. As recently as February 17, 2012,
shares of ATS Corporation closed above the price being offered by
Salient Federal Solutions. Furthermore, within in the last year,
shares of ATS Corporation have closed as high as $4.75 per share,
considerably higher than the price being offered as a part of the
proposed transaction.
Additionally, Robbins Umeda is investigating whether
self-dealing and other guarantees played a part in the decision by
ATS Corporation to enter into the agreement with Salient Federal
Solutions. According to the terms of the deal, members of ATS
Corporation's board of directors are slated to receive one-time
cash bonuses conditioned on the successful consummation of the
transaction.
Robbins Umeda attorneys highlight that ATS Corporation
shareholders have the option to file a class action lawsuit against
the company to secure the best possible price for the company's
shareholders and the disclosure of material information to
shareholders so they can vote on the transaction in an informed
manner.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/ats-corporation/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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