The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...
December 21 2010 - 11:33AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
LaserCard Corporation (“LaserCard” or the “Company”) (NasdaqGM:
LCRD) for possible breaches of fiduciary duty and other violations
of state law in connection with their attempt to sell the Company
to ASSA ABLOY AB (“ASSA ABLOY”) (OTC: ASAZY.PK). Under the terms of
the proposed transaction, LaserCard shareholders will receive $6.25
in cash for each share of LaserCard common stock they own for a
total transaction value of approximately $80 million.
Click here to learn how to join the action:
http://www.zlk.com/lasercard-lcrd.html, or call: 877-363-5972.
The investigation concerns whether the LaserCard Board of
Directors breached their fiduciary duties to LaserCard stockholders
by failing to adequately shop the Company before entering into this
transaction and whether ASSA ABLOY is underpaying for LaserCard
shares, thus unlawfully harming LaserCard stockholders. In
particular, LaserCard stock has traded as high as $6.77 per share
as recently as April 27, 2010.
If you own common stock in LaserCard and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://www.zlk.com/lasercard-lcrd.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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