The Briscoe Law Firm Investigates Integral Systems, Inc. for Shareholders Concerning Acquisition by Kratos Defense & Security...
May 16 2011 - 10:35AM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of Integral Systems, Inc. (“Integral
Systems” or “ISYS”) (NASDAQ: ISYS) related to the merger of
Integral Systems with a subsidiary of Kratos Defense & Security
Solutions, Inc. (“Kratos”) (NASDAQ: KTOS).
The definitive agreement, which was announced on May 16, 2011,
involves a transaction valued at approximately $266 million. Under
the proposed buyout, Integral Systems shareholders will receive
$5.00 in cash and 0.588 shares of Kratos common stock for each
share of Integral Systems/ISYS common stock they hold. The
aggregate value to Integral Systems shareholders is only
approximately $13.00 per share. The transaction is expected to
close in the third quarter of 2011.
The firms are investigating the fairness of the proposed
transaction to Integral Systems shareholders, whether the
shareholders are being underpaid for their stock, and whether
Integral Systems’ Board of Directors acted in the shareholders’
best interests. Specifically, Integral Systems’ shares closed at
$13.01 the day prior to the merger announcement, and as recently as
May 10, 2011, ISYS shares closed at $13.64 per share. Based on
these and other factors, the firms do not believe that the
acquisition price is fair to Integral Systems shareholders.
If you currently own shares of Integral Systems/ISYS and would
like additional information regarding this investigation, or if you
have information regarding the allegations involved in this
transaction, please 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, toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
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