HRLY Herley Industries, Inc. (MM)

Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by members of the Board of Directors of Herley Industries, Inc. (NasdaqGS: HRLY) arising from the proposed acquisition of Herley by Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS).

Under the terms of the transaction, Kratos will commence a cash tender offer for all issued and outstanding shares of Herley common stock at $19.00 per share, without interest. The tender offer will be commenced no later than February 25, 2011 and remain open for 20 business days, subject to periods of extension through June 30, 2011.

Weiss & Lurie is investigating whether Herley’s Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. Notably, Herley shares traded at a high of $18.38 as recently as December 2010.

If you own Herley shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at infony@weisslurie.com or by telephone at (888) 593-4771.

Weiss & Lurie 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 institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at infony@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.

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