BALA CYNWYD, Pa., April 2, 2012 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Opnext, Inc.
("Opnext" or the "Company") (NASDAQ- OPXT) relating to the proposed
acquisition by Oclaro, Inc. ("Oclaro").
Under the terms of the transaction, Opnext shareholders would
receive only 0.42 shares of Oclaro stock for each share of Opnext
stock they own. The transaction values Opnext stock at
approximately $1.96 per share. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Opnext
for not acting in the Company's shareholders' best interests in
connection with the sale process to Oclaro. The transaction
may undervalue Opnext as Opnext stock traded at $2.88 on May 31,
2011 and traded at $2.27 on
July 22, 2011.
If you own shares of Opnext stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L.
Brodsky, Esquire or Evan J. Smith,
Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by
e-mail at investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/403-opxt-opnext-inc.html, or by calling
toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC