NEW YORK, Aug. 17, 2015 /PRNewswire/ -- The fairness
of the proposed acquisition of Planar Systems, Inc. ("PLNR" or the
"Company") by Leyard Optoelectronic Co. Ltd. ("Leyard") is the
subject of an investigation by WeissLaw LLP, a national class
action, shareholder rights law firm. The investigation focuses on
possible breaches of fiduciary duty and other violations of law by
the Board of Directors of PLNR for agreeing to sell the Company to
Leyard. On August 12, 2015, the
Company announced it had reached a definitive agreement for Leyard
to acquire PLNR for $156.8 million.
Under the terms of the agreement, PLNR shareholders will receive
$6.58 for each PLNR share they
own.
WeissLaw is investigating whether PLNR's Board acted to maximize
shareholder value. Notably, analysts have set a target price
of $7.50 per PLNR. The analysts'
target price represents a premium of approximately 14% over the
share price being offered Leyard.
Given these facts, WeissLaw is investigating the Board's
decision to sell PLNR and whether PLNR shareholders will
obtain their fair and proportionate share of the Company's
continued success and future growth prospects. If you own PLNR
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP 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
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal advice
concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP