NEW YORK, March 12, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Gilat
Satellite Networks Ltd. ("GILT" or the "Company") (NASDAQ: GILT) in
connection with the proposed acquisition of the Company by Comtech
Telecommunications Corp. ("CMTL") (NASDAQ: CMTL). Under the
terms of the acquisition agreement, GILT shareholders will receive
$7.18 in cash and 0.08425 shares of
Comtech for each share of GILT they own, representing consideration
of $8.89 based on Comtech's
March 11 closing price.
If you own GILT shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/gilat-satellite-networks-ltd/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether GILT's Board of Directors
acted to maximize shareholder value prior to entering into the
acquisition agreement. Notably, the deal is a strategic
transaction which Comtech hopes to leverage to strengthen its
position as a leading supplier of advanced communication solutions,
and expand its portfolio of products to include GILT's high
performance TDMA-based satellite modems and next generation
solid-state amplifiers.
Given these facts, WeissLaw is concerned whether the proposed
acquisition agreement undervalues the Company, whether the Board
ran a fair process, and whether all material information related to
the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP