Weiss & Lurie Announces Filing of Class Action Lawsuit On Behalf of LaserCard Corporation Shareholders
February 08 2011 - 12:35PM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm, has filed a class action lawsuit in the United
States District Court for the Northern District of California on
behalf of all shareholders of LaserCard Corporation (“LaserCard”)
(NASDAQ:LCRD).
On December 20, 2010, LaserCard announced that it had entered
into a definitive merger agreement to be acquired by ASSA ABLOY,
Inc. for $6.25 per share. The complaint filed in the lawsuit,
Miller v. DeVincenzi, et al., alleges that defendants violated the
federal securities laws by omitting material information from
LaserCard’s December 22, 2010 Schedule 14D-9, and that LaserCard’s
directors violated their fiduciary duties by failing to obtain the
best possible price for the Company.
If you wish to wish to serve as lead plaintiff in this
litigation, you must move the Court no later than 60 days from
today. However, in order to do so, you must meet certain legal
requirements pursuant to the Private Securities Litigation Reform
Act of 1995. A lead plaintiff is a representative party who acts on
behalf of other class members in directing the litigation. In order
to be appointed lead plaintiff, the Court must determine that the
class member’s claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may
together serve as lead plaintiffs. Your ability to share in any
recovery is not, however, affected by your decision whether or not
to serve as a lead plaintiff. You may retain Weiss & Lurie, or
other counsel of your choice, to serve as your counsel in this
action. Any member of the class may move the Court to serve as lead
plaintiff, or may choose to do nothing and remain an absent class
member.
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