The Law Firm of Weiss & Lurie Investigates LeCroy Corporation
29 Maio 2012 - 6:45PM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of LeCroy Corporation
(NASDAQ:LCRY) arising from its agreement for LeCroy to be acquired
by Teledyne Technologies Inc. for $14.30 per share.
Weiss & Lurie is investigating whether LeCroy’s Board acted
in the best interests of shareholders in approving this deal. In
approving the deal, the Board may have breached its duties to
shareholders by failing to properly maximize the value of LeCroy’s
shares. Just before the deal’s announcement, some analysts had set
the price target for LeCroy stock above the $14.30 per share offer,
with a high target of $16.00 per share.
In its recent third quarter fiscal 2012 ended on March 31, 2012,
LeCroy reported solid financial results “meeting the high-end of
[its] top and bottom-line expectations.” Indeed, it reported its
9th consecutive quarter of year-over-year revenue growth with
revenue rising 5.1% from to $48.8 million compared to $46.5 million
during the same quarter in 2011.
As part of the deal, insiders may have secured special benefits
for themselves. For example, upon the consummation of the proposed
acquisition, LeCroy’s current leadership team is expected to remain
the same and the unvested options will be permitted to accelerate,
thereby providing insiders with consideration for otherwise
unmarketable stock.
If you own LeCroy shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Julia J. Sun, Esq. either by
telephone at (888) 593-4771 or by email at info@weisslurie.com.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing, consumer
fraud, or anti-trust violations, please email us at
info@weisslurie.com or fill out the form on our website,
http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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