Robbins Geller Rudman & Dowd LLP, Wolf Popper LLP, and Johnson & Weaver, LLP File Class Action Suit against Tellabs, Inc.
March 20 2014 - 7:01PM
Business Wire
Robbins Geller Rudman & Dowd LLP (“Robbins Geller”), Wolf
Popper LLP, and Johnson & Weaver, LLP today announced that a
class action has been commenced in the United States District Court
for the Northern District of Illinois on behalf of former holders
of Tellabs, Inc. (“Tellabs”) (NASDAQ:TLAB) common stock that was
tendered or converted in connection with the acquisition of Tellabs
by Marlin Equity Partners, Blackhawk Holding Vehicle LLC and
Blackhawk Merger Sub Inc. (collectively “Marlin”) as described
below.
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from today. Any member of the putative class
may move the Court to serve as lead plaintiff through counsel of
their choice, or may choose to do nothing and remain an absent
class member.
The complaint charges Tellabs and its Board of Directors (the
“Board”) with violations of the Securities Exchange Act of 1934
(“Exchange Act”) and Tellabs, the Board and Marlin with breaches of
fiduciary duty and/or aiding and abetting breaches of fiduciary
duty in connection with the acquisition of Tellabs by Marlin (the
“Acquisition”). Tellabs designs, develops, and supports
telecommunications networking products.
On October 21, 2013, Tellabs and Marlin announced that they had
entered into a definitive agreement pursuant to which Marlin would
acquire all of the outstanding shares of Tellabs via a tender offer
(the “Tender Offer”), which was commenced on November 1, 2013 for
$2.45 per share in cash (the “Acquisition Price”). The Tender Offer
closed at 11:59 p.m., New York City time on December 2, 2013 and
was followed by a short-form merger, which paid those shareholders
who had not previously tendered the Acquisition Price.
The complaint alleges that Tellabs and the Board violated
§§14(e) and 20(a) of the Exchange Act by issuing a Schedule 14D-9
Solicitation/Recommendation Statement that contained untrue
statements of material fact, or omitted materials fact necessary in
order to make the statements made not misleading, or by engaging in
fraudulent, deceptive, or manipulative acts or practices in
connection with the Tender Offer. Also, in pursuing the
Acquisition, each of the defendants violated applicable state law
by directly breaching and/or aiding and abetting breaches of
fiduciary duties of loyalty and due care owed to Tellabs’
shareholders.
Plaintiffs seek to recover damages on behalf of all holders of
Tellabs common stock who tendered their common stock through the
Tender Offer or whose common stock was converted to the Acquisition
Price through the short-form merger and were harmed by defendants’
violations of the Exchange Act, and all holders of Tellabs common
stock whose common stock was converted to the Acquisition Price
through the short-form merger and who were harmed by defendants’
breaches of fiduciary duties as described herein. The plaintiffs
are represented by Robbins Geller, Wolf Popper, and Johnson &
Weaver, which have expertise in prosecuting investor class actions
and extensive experience in actions involving financial fraud.
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests, please contact
plaintiffs’ counsel:
Darren Robbins of Robbins Geller at 800/449-4900 or
619/231-1058, or via e-mail at djr@rgrdlaw.com;
Chet Waldman of Wolf Popper at 877/370-7703 or 212/759-4600, or
via e-mail at irrep@wolfpopper.com; or
W. Scott Holleman of Johnson & Weaver at 212/802-1486, or
via email at ScottH@johnsonandweaver.com.
Robbins Geller represents U.S. and international institutional
investors in contingency-based securities and corporate litigation.
With nearly 200 lawyers in ten offices, the firm represents
hundreds of public and multi-employer pension funds with combined
assets under management in excess of $2 trillion. The firm has
obtained many of the largest recoveries in history and has been
ranked number one in the number of shareholder class action
recoveries in MSCI’s Top SCAS 50 every year since 2003. Please
visit http://www.rgrdlaw.com for more information.
Wolf Popper LLP has successfully recovered billions of dollars
for defrauded investors. The firm's reputation and expertise have
been repeatedly recognized by the courts, which have appointed the
firm to major positions in complex multi-district and consolidated
litigations. Please visit http://www.wolfpopper.com for more
information.
Johnson & Weaver, LLP is a nationally recognized
shareholders’ rights law firm with offices in New York, New York
and San Diego, California. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonandweaver.com.
Robbins Geller Rudman & Dowd LLPDarren Robbins800/449-4900
or 619/231-1058djr@rgrdlaw.com
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