The Law Firm of Weiss & Lurie Investigates the Acquisition of Integral Systems, Inc.
May 16 2011 - 7:39PM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Integral Systems,
Inc. (NASDAQ:ISYS) arising from its proposed acquisition by Kratos
Defense & Security Solutions, Inc. (NASDAQ:KTOS).
Under the terms of the merger agreement, Integral Systems
shareholders will receive $5.00 in cash and 0.588 of a share of
Kratos common stock. Integral Systems’ directors and Vintage
Capital Management, LLC, who collectively own approximately 12.4%
of Integral Systems’ outstanding stock, have signed agreements and
irrevocable proxies to vote in favor of the transaction. The
acquisition is expected to close in the third quarter of 2011.
Weiss & Lurie is investigating whether Integral Systems’
Board acted in the best interests of shareholders in approving the
transaction and whether the Board adequately shopped the Company
prior to entering into the acquisition agreement. Notably, based on
the pre-announcement closing prices on May 13, 2011, the
transaction values each Integral Systems share at approximately
$12.65, a discount of 3% to Integral Systems’ $13.01 closing
price.
If you own Integral Systems shares and would like more
information about your rights as a shareholder or additional
information concerning our investigation, please contact Joshua M.
Rubin, Esq. either by email at info@weisslurie.com or by telephone
at (888) 593-4771.
Weiss & Lurie 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
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (such as
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading press releases or SEC filings),
consumer fraud (such as false advertising, defective products, or
other deceptive business practices), or anti-trust violations,
please email us at info@weisslurie.com or fill out the form on our
website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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