Murray, Frank & Sailer LLP Investigates Gerber Scientific Inc.
13 Junho 2011 - 6:02PM
Business Wire
Murray, Frank & Sailer LLP is investigating claims of breach
of fiduciary duty by certain members of the board of directors of
Gerber Scientific Inc., (NYSE: GRB) (“Gerber” or the “Company”) in
relation to the acquisition of the Company by Vector Capital
Corp.,(“Vector”).
On June 13, 2011, Gerber and Vector announced that Vector will
acquire Gerber pursuant to a transaction under which Gerber
stockholders will receive $11.00 for each share of Gerber common
stock, for an aggregate value of approximately $282 million. In
addition, shareholders will get contingent cash payments if
recoveries are made under certain litigation claims tied to a
computerized "print to cut" technology patent.
Gerber, which makes automated manufacturing systems for sign
making, specialty graphics and packaging, said in April it had
completed a plan to exit the flatbed printer business in order to
focus on its more profitable thermal printing products. The move
was expected to lead to cost savings. It also disclosed plans to
sell a Connecticut plant. In its most recent quarter, Gerber
reported swinging to a profit on higher product sales and volumes,
while restructuring expenses decreased.
The investigation concerns whether certain members of the board
of directors breached their fiduciary duty in connection with their
efforts to sell Gerber to Vector at an inadequate price through an
unfair process which significantly undervalues the Company.
If you are a current investor in Gerber, who purchased GRB
shares before June 13, 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
Katherine E. Smith (800) 497-8076 or (212) 682-1818, or by email at
investigations@murrayfrank.com.
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