Law Firm Brower Piven Announces Investigation in Connection With the Acquisition of GTSI Corp. by UNICOM Systems, Inc.
07 Mayo 2012 - 1:11PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of GTSI Corp. (NASDAQ: GTSI) (“GTSI”)
and other violations of state law by the board of directors of GTSI
relating to the proposed acquisition of the company by UNICOM
Systems, Inc. (“UNICOM”) The firm’s investigation seeks to
determine, among other things, whether the board breached its
fiduciary duties by failing to maximize shareholder value.
On May 7, 2012, GTSI announced that it had entered into a
definitive agreement providing for UNICOM to acquire GTSI for
$76.67 million. Under the terms of the merger agreement, GTSI
shareholders will receive $7.75 for each share of GTSI common stock
held.
According to the press release, GTSI’s largest
shareholder, Linwood (Chip) Lacy, who is also a director, a
related entity, and another director have already agreed to vote
their shares in favor of the transaction. Mr. Lacy and such related
entity beneficially own approximately 17%
of GTSI’s common stock.
If you currently own shares of GTSI and would like to learn more
about the investigation being conducted by Brower Piven, you may
email or call Brower Piven, who will, without obligation or cost to
you, attempt to answer your questions. You may contact Brower Piven
by email at hoffman@browerpiven.com, by calling (410) 415-6616, or
at Brower Piven, A Professional Corporation, 1925 Old Valley Road,
Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and other class action cases of
over 60 years.
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