Glancy Binkow & Goldberg LLP Announces Investigation of Opnext, Inc.
26 Março 2012 - 8:33PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims against the Board of Directors of
Opnext, Inc. (“Opnext” or the “Company”) (NASDAQ: OPXT) related to
the proposed acquisition of the Company by Oclaro, Inc. The
transaction is valued at approximately $177 million or $1.96 per
share.
This investigation concerns whether the Board of Directors of
Opnext breached their fiduciary duties to stockholders by failing
to adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction. The
Company has seen substantial recent growth. Its share price has
skyrocketed from $0.82 on January 5, 2012 to $1.13 on March 19,
2012. Further, a book value of $2.01 per share was reported for the
most recent quarter.
If you are a shareholder of Opnext, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Louis Boyarsky, Esquire, Glancy Binkow
& Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at
(888) 773-9224 or by email to shareholders@glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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