Murray, Frank & Sailer LLP Investigates Breaches Of Fiduciary Duty Regarding Acquisition Of Tollgrade Communications, Inc. by...
22 Fevereiro 2011 - 6:42PM
Business Wire
Murray, Frank & Sailer LLP is investigating claims of breach
of fiduciary duty by certain members of the board of directors of
Tollgrade Communications, Inc. (Nasdaq: TLGD) (“Tollgrade” or the
“Company”) in relation to the acquisition of the Company by private
equity firm Golden Gate Capital (“Golden Gate”).
On February 22, 2011, Tollgrade and Golden Gate announced that
Golden Gate will acquire Tollgrade pursuant to an all-cash
transaction under which Tollgrade stockholders will receive $10.10
in exchange for each share of Tollgrade common stock, an aggregate
value of approximately $137 million.
The investigation concerns whether certain members of the board
of directors breached their fiduciary duty in connection with their
efforts to sell Tollgrade to Golden Gate at an inadequate price
through an unfair process which significantly undervalues the
Company. Among other issues, Tollgrade stock traded at as much as
$10.16 as recently as February 16, 2011.
If you are a current investor in Tollgrade, who purchased TLGD
shares before February 22, 2011, and you wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests with respect to these matters, please contact
Bridget Hamill or Greg Linkh at (800) 497-8076 or (212) 682-1818,
or by email at investigations@murrayfrank.com.
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