The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Herley Ind...
09 Febrero 2011 - 5:28PM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Herley Industries, Inc. (Nasdaq: HRLY) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Kratos Defense &
Security Solutions, Inc. (Nasdaq: KTOS). Under the terms of the
proposed transaction, Herley shareholders will receive $19.00 in
cash per share for a total transaction value of approximately $270
million.
The investigation concerns whether the Herley Board of Directors
breached their fiduciary duties to Herley stockholders by failing
to adequately shop the Company before entering into this
transaction and whether Kratos is underpaying for Herley shares.
The transaction price offers only a nominal premium over the $18.38
stock price that Herley shares traded at as recently December 29,
2010.
If you own common stock in Herley and wish to obtain additional
information, please contact Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/herleyindustries.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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