The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of Applied Signal Technology...
21 Diciembre 2010 - 3:31PM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Directors of Applied Signal Technology, Inc. (“Applied Signal”)
(NasdaqGS: APSG) for possible breaches of fiduciary duty and other
violations of state law in connection with their attempt to sell
the Company to Raytheon Company (NYSE: RTN). Under the terms of the
proposed transaction, Raytheon will acquire Applied Signal in a
cash tender offer of $38.00 per share for a total transaction value
of approximately $490 million.
The investigation concerns whether the Applied Signal Board of
Directors breached their fiduciary duties to Applied Signal
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Raytheon is underpaying
for Applied Signal shares. The offer price represents only an
eight-percent premium to Applied Signal’s closing price on December
17, 2010.
If you own common stock in Applied Signal and wish to obtain
additional information, please contact Joseph Klein, Esq. directly,
via email at jk@jkleinlawfirm.com, by telephone at 718-947-0005,
Toll Free: 877-STOK-180, or visit http://goo.gl/CRDk1.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation.
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