NEW YORK, March 13, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Oclaro, Inc. ("OCLR"
or the "Company") (NASDAQ: OCLR) in connection with the proposed
acquisition of the Company by Lumentum Holdings Inc. ("LITE")
(NASDAQ: LITE). Under the terms of the acquisition agreement,
the Company's shareholders will be entitled to receive $5.60 in cash and 0.636 of a share of LITE for
each share of OCLR they own, representing consideration of
$9.99 per OCLR share.
WeissLaw is investigating whether OCLR's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, OCLR shares traded for $10.93, or nearly $1.00 above the per-share consideration, as
recently as June of 2017. Additionally, according to the
acquisition agreement, there are several strategic and financial
benefits for LITE in this deal, including:
- A strong and balanced portfolio with a broad revenue mix;
- Faster innovations and accelerated product development which
will allow LITE to better address customers' needs; and
- Improved market positioning.
Moreover, LITE anticipates the transaction to be immediately
accretive to non-GAAP earnings per share, and $60 million in annual run-rate synergies within
the first 12 to 24 months of closing. Finally, upon closing,
OCLR shareholders will own a meagre 16% of the combined
company.
Given these facts, WeissLaw is investigating whether OCLR's
shareholders will obtain their fair and proportionate share of the
Company's continued success and growth prospects. If you own
OCLR 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/oclaro-inc/
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SOURCE WeissLaw LLP