The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Opnext...
28 Março 2012 - 9:02PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Opnext, Inc. (“Opnext” or the “Company”) (Nasdaq: OPXT) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Oclaro, Inc.
(Nasdaq: OCLR). Under the terms of the agreement, Opnext
shareholders will receive 0.42 shares of Oclaro, Inc. for every
Opnext share they own, or approximately $1.96 per share, based on
the previous closing of Oclaro stock. The transaction has a total
approximate value of $177 million.
Click here to learn how to join the action:
http://www.zlk.com/opnext-opxt, or call: 877-363-5972. There is no
cost or obligation to you.
The investigation concerns whether the Opnext Board of Directors
breached their fiduciary duties to Opnext stockholders by failing
to adequately shop the Company before entering into this
transaction and whether Oclaro, Inc. is underpaying for Opnext
shares, thus unlawfully harming Opnext stockholders. In particular,
Opnext reported a book value of $2.01 per share for the most recent
quarter.
If you own common stock in Opnext and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. The attorneys at Levi & Korsinsky have been appointed
by numerous courts throughout the country to serve as lead counsel
on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
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