The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of SRS Labs, In...
03 Mai 2012 - 4:15PM
Marketwired
Levi & Korsinsky notifies investors of SRS Labs, Inc. ("SRS
Labs" or the "Company") (NASDAQ: SRSL) 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 DTS, Inc. (NASDAQ: DTSI). Under the terms of the
agreement, SRS Labs shareholders may elect to receive either $9.50
or 0.31127 shares of DTS common stock for each share of SRS Labs
common stock they own. Shareholders representing approximately 20%
of the outstanding SRS Labs shares have agreed to tender their
shares. A complaint was filed in Delaware state court.
Click here to learn how to join the action:
http://zlk.9nl.com/srs-labs-srsl, or call: 877-363-5972. There is
no cost or obligation to you.
The claims concern whether the SRS Labs Board of Directors
breached their fiduciary duties to SRS Labs stockholders by failing
to adequately shop the Company before entering into this
transaction and whether DTS, Inc. is underpaying for SRS Labs
shares, thus unlawfully harming SRS Labs stockholders. In
particular, at least one analyst set a price target for SRS Labs
stock at $10.00 per share.
If you own common stock in SRS Labs and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or http://zlk.9nl.com/srs-labs-srsl.
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
www.zlk.com
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