NEW YORK, June 24, 2016 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of American Science and
Engineering Inc. ("ASEI" or the "Company") in connection with the
proposed acquisition of the Company by OSI Systems Inc. ("OSIS").
On June 21, 2016, the Company
announced it had reached a definitive agreement for OSIS to acquire
all outstanding shares of ASEI in a transaction valued at
approximately $187 million.
Under the terms of the agreement, ASEI shareholders will receive
$37.00 in cash for each ASEI share
they own.
WeissLaw is investigating whether ASEI's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, ASEI shares traded at $40.77, or $3.77
above the offer price, as recently as January 7, 2016. Additionally, the offer
price is significantly lower than the Company's 52-week high of
$46.46. Further, the
transaction is expected to be significantly accretive to OSIS'
earnings, with expected growth of at least 10% per share in fiscal
year 2018.
Given these facts, WeissLaw is investigating whether ASEI's
Board acted in the best interests of ASEI's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own ASEI shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/american-science-and-engineering-inc-acquisition-may-not-be-in-the-best-interests-of-asei-shareholders-300289910.html
SOURCE WeissLaw LLP