SAN DIEGO, Feb. 29, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of API Technologies Corp. (NASDAQ:
ATNY) breached their fiduciary duties in connection with the
proposed sale of the Company to J. F.
Lehman & Company.
Additional Information:
API designs, develops and manufactures systems, subsystems, modules
and components for radio frequency (RF) microwave, millimeterwave,
electromagnetic, power and security applications.
On February 29, 2016, API
announced it had signed a definitive merger agreement with
J. F. Lehman. Under the terms of the
agreement, a newly formed affiliate of J.F. Lehman will
acquire all of the outstanding shares of APIs' common stock for
$2.00 per share in cash in a merger
transaction.
The investigation concerns whether the API board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for API shares
of common stock. Nationally recognized Johnson & Weaver is
investigating whether the proposed deal price represents adequate
consideration, especially given one Wall Street analyst has a
$3.75 price target on the
stock.
If you are a shareholder of API and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If emailing, please
include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP