FSI International Investor Alert: The Briscoe Law Firm & Powers Taylor, LLP Investigate FSI International, Inc. Sale to Tokyo...
August 13 2012 - 4:52PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of FSI International, Inc. (“FSII”)
(NASDAQ: FSII) to Tokyo Electron Limited for shareholders. Under
the proposed transaction, FSII shareholders will receive only $6.20
in cash for each share of FSII stock owned, well below at least one
analyst’s estimated value of $7.50 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive merger agreement involves a transaction with a
total equity value of approximately $252.5 million.
The investigation centers on whether FSII shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues FSII stock, and whether FSII’s
board attempted to obtain the highest share price for all
shareholders prior to agreeing to the deal. At least one analyst
with Yahoo! Finance has estimated that the true inherent value of
the stock is as high as $7.50 per share, well above the proposed
price. According to shareholder rights attorney Willie Briscoe,
“Because of the lack of a significant premium to the shareholders
and other factors, we believe that the transaction may undervalue
FSII stock. Our lawsuit will seek to obtain the highest share price
for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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