The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of LeCroy Corporation in Connection With the Sale of the Company to Teledyne Technologies Incorporated
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 06/11/12 -- Levi & Korsinsky notifies investors of LeCroy Corporation ("LeCroy" or the "Company") (NASDAQ: LCRY) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Teledyne Technologies Incorporated (NYSE: TDY). A complaint was filed in New York state court.
Under the terms of the transaction, LeCroy shareholders will receive $14.30 for each share of LeCroy stock they own. The transaction has a total approximate value of $291 million, taking into account the Company's stock options, appreciation rights, and net debt. The claims concern whether the LeCroy Board of Directors breached their fiduciary duties to LeCroy stockholders by failing to adequately shop the Company before entering into this transaction and whether Teledyne Technologies Incorporated is underpaying for LeCroy shares, thus unlawfully harming LeCroy stockholders. In particular, at least one analyst set a price target for LeCroy stock at $16.00 per share.
If you own common stock in LeCroy and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or .
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.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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Datum: 11.06.2012 - 11:32 Uhr
Sprache: Deutsch
News-ID 1123026
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