Law Offices of Howard G. Smith Announces Investigation of Globecomm Systems, Inc.
August 27 2013 - 12:46PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the Board of Directors of
Globecomm Systems, Inc. (“Globecomm” or the “Company”)
(NASDAQ:GCOM) related to the proposed acquisition of the Company by
investment firm Wasserstein & Co. The transaction is valued at
approximately $340 million, or $14.15 per share.
This investigation concerns whether the Board of Directors of
Globecomm breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into the proposed transaction, and whether the Company has
disclosed all material information to shareholders about the
transaction. The Company has seen substantial recent growth. Its
share price has skyrocketed from $9.49 on June 26, 2012 to $14.40
on August 23, 2013. Further, at least one analyst has set a target
price for the Company’s stock at $15.75 per share.
If you are a shareholder of Globecomm, if you have information
or would like to learn more about our investigation, or if you wish
to discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith, Esquire(215)
638-4847Toll Free (888)
638-4847howardsmith@howardsmithlaw.comhttp://www.howardsmithlaw.com
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