Herley Industries, Inc. Shareholder Investigation by Briscoe Law Firm Concerning Acquisition by Kratos Defense & Securities S...
08 Febrero 2011 - 10:00AM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of Herley Industries, Inc. (“Herley
Industries” or “HRLY”) (NASDAQ: HRLY) related to the proposed
buyout of Herley Industries by Kratos Defense & Security
Solutions, Inc. (“Kratos” or “KTOS”). The definitive acquisition
agreement, which was announced on February 7, 2011, involves a
transaction valued at approximately $270 million. Under the
proposed buyout, Herley Industries shareholders will receive only
$19.00 in cash for each share of Herley Industries/HRLY common
stock they hold through a tender offer commencing no later than
February 25, 2011.
The investigation relates to the fairness of the proposed
transaction to Herley Industries shareholders, possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Herley Industries for approving this transaction, and
whether Herley Industries’ Board of Directors acted in the
shareholders’ best interests.
Although the acquisition price offered to Herley Industries
shareholders represents a premium over Herley Industries’ closing
price the day before the merger announcement, Herley Industries
shares closed at nearly $18 per share as recently as January 14,
2011. Based on these and other factors, the firms believe that the
acquisition price may not be fair for Herley Industries
shareholders.
If you currently own shares of Herley Industries/HRLY and would
like additional information regarding this investigation, or if you
have information regarding the allegations involved in this
transaction, please contact Patrick Powers at Powers Taylor, LLP,
toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
Herley Industries, Inc. (MM) (NASDAQ:HRLY)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Herley Industries, Inc. (MM) (NASDAQ:HRLY)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024