Law Firm Brower Piven Announces Investigation in Connection With the Acquisition of LeCroy Corp. by Teledyne Technologies Inc...
29 Mai 2012 - 5:47PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of LeCroy Corporation (NASDAQ: LCRY)
(“LeCroy”) and other violations of state law by the board of
directors of LeCroy relating to the proposed acquisition of the
company by Teledyne Technologies Incorporated (“Teledyne”). The
firm’s investigation seeks to determine, among other things,
whether the board breached its fiduciary duties by failing to
maximize shareholder value.
On May 29, 2012, LeCroy and Teledyne announced that they had
entered into a definitive agreement providing for Teledyne to
acquire LeCroy for approximately $291 million. Under the terms of
the merger agreement, LeCroy shareholders will receive $14.30 for
each share of LeCroy common stock held. However, according to
Yahoo! Finance, analysts have set a mean price target of $15.00 per
share and at least one analyst has set a high price target of
$16.00 per share. LeCroy directors and executive officers,
including founder Walter LeCroy, have already agreed to vote their
shares in favor of the transaction.
If you currently own shares of LeCroy and would like to learn
more about the investigation being conducted by Brower Piven, you
may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling (410)
415-6616, or at Brower Piven, A Professional Corporation, 1925 Old
Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven
have combined experience litigating securities and other class
action cases of over 60 years.
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