NEW YORK, March 2, 2016 /PRNewswire/ -- The fairness
of the proposed acquisition of API Technologies Corp. ("ATNY" or
the "Company") by its affiliate, J. F.
Lehman & Company ( "J. F.
Lehman"), is the subject of an examination by WeissLaw LLP
for possible breaches fiduciary duties and other violations of law.
On February 29, 2016, the Company
announced it had reached a definitive agreement for J. F. Lehman to acquire all outstanding shares
of ATNY. Under the terms of the agreement, ATNY shareholders
will receive $2.00 in cash for each
ATNY shares they own.
WeissLaw LLP is investigating whether ATNY's Board acted to
maximize shareholder value prior to entering into the agreement
with J. F. Lehman. Notably, at
least one analyst set a target price of $3.75, or $1.75
above the per share offer price. Further, the Company recently
announced positive financial results. It reported revenues of
$68.0 million in the third quarter of
2015 as compared to $56.9 million
reported in the same quarter of the previous year, representing an
increase of $11.1 million
year-over-year or approximately 20%.
Given these facts, WeissLaw is investigating whether ATNY's
Board acted in the best interests of ATNY's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with J. F.
Lehman. If you own ATNY 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/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP