Bull & Lifshitz, LLP Announces Investigation of the Acquisition of Henry Bros. Electronics, Inc.
October 19 2010 - 4:01PM
Business Wire
Bull & Lifshitz, LLP announces an investigation into
possible breaches of fiduciary duty in connection with the proposed
acquisition of Henry Bros. Electronics, Inc. (NASDAQ: HBE - News)
(referred to as "HBE" or the “Company”) by Kratos Defense &
Security Solutions, in a cash transaction valued at approximately
$45 million.
Under the terms of the agreement, shareholders of HBE will
receive $7.00 per share of common stock. Concurrently with the
execution of the Merger Agreement, James Henry, the Company’s
Chairman and Chief Executive Officer, and Richard Rockwell, the
Company’s Vice Chairman of the Board, who collectively held
approximately 60% of the Company's issued and outstanding common
stock as of October 5, 2010, have entered into voting agreements
whereby they have agreed to vote all shares of the Company's common
stock held by them in favor of the Merger, subject to termination
of such agreements if the Merger Agreement is terminated.
Bull & Lifshitz, LLP's investigation is focused on whether
the proposed deal provides adequate value to the Company’s
shareholders.
If you are a holder of HBE stock and want to discuss your legal
rights, you may e-mail or call Bull & Lifshitz, LLP who will,
without obligation or cost to you, attempt to answer your
questions.
If you are a shareholder of HBE and would like more information
about our investigation, please contact Joshua M. Lifshitz, Esq. by
telephone at (866) 313-6222 or by sending an e-mail including your
contact information to: counsel@nyclasslaw.com. All e-mail
correspondence should make reference to HBE.
Bull & Lifshitz, LLP is a New York City-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please visit our website at www.nyclasslaw.com.
ATTORNEY ADVERTISING. © 2010 Bull & Lifshitz, LLP.
The law firm responsible for this advertisement is Bull &
Lifshitz, LLP, 18 East 41st Street, New York, New York 10017, (212)
213-6222. Prior results do not guarantee or predict a similar
outcome with respect to any future matter.
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