The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of Nu Horizons Electronics Corp. by Arrow E...
20 Septiembre 2010 - 4:57PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors ("Board") of Nu Horizons
Electronics Corp. ("Nu Horizons" or the "Company") (NASDAQ: NUHC)
in connection with their efforts to sell Nu Horizons to Arrow
Electronics, Inc. ("Arrow") (NYSE: ARW). If the transaction is
completed, Nu Horizons shareholders will receive $7.00 in cash for
each share of Nu Horizons common stock they hold. The transaction
is expected to close in the fourth quarter of 2010.
Robbins Umeda LLP's investigation concerns whether Nu Horizons'
Board undertook a fair process to obtain fair consideration for all
shareholders of Nu Horizons. Specifically, our investigation
concerns whether the Company's Board breached their fiduciary
duties to Nu Horizons shareholders by failing to adequately shop
the Company before entering into the transaction with Arrow.
Notably, Nu Horizon reported first quarter 2011 net revenues of
$211 million, up 42.6% from the first quarter of 2010, and beating
analyst estimates of $181 million. Furthermore, net revenues for
the Company have increased sequentially for the fifth consecutive
quarter, up 12.7% from the fourth quarter in 2010.
If you are a shareholder of Nu Horizons, plan to continue to
hold your shares, and would like more information about your rights
as a shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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