Law Office of Brodsky & Smith, LLC Announces Investigation of SRS Labs, Inc.
28 Avril 2012 - 5:00PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
SRS Labs, Inc (“SRS” or the “Company”) (Nasdaq: SRSL) relating to
the proposed acquisition by DTS, Inc. (“DTS”).
Under the terms of the transaction, SRS shareholders would
receive only $9.50 in cash or a fixed ration of 0.31127 shares of
DTS common stock for each share of SRS stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of SRS for
not acting in the Company’s shareholders' best interests in
connection with the sale process to DTS. The transaction may
undervalue SRS as SRS stock traded at $10.98 per share on January
14, 2011 and traded at $9.86 a share as recently as July 11, 2011.
In addition, an analyst has placed a $10.00 price target on the
stock.
The firm is also investigating if employment guarantees played a
role in the decision to enter into the transaction. According to
the terms of the deal, the Chairman and CEO of SRS will receive a
new position on the board of DTS upon completion of the
transaction.
If you own shares of SRS stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/411-srsl-srs-labs-inc.html, or by calling
toll free 877-LEGAL-90.
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