Pomerantz Law Firm Investigates Claims on Behalf of Investors of SRS Labs, Inc.
April 17 2012 - 6:05PM
Business Wire
Pomerantz Haudek Grossman & Gross LLP is investigating
claims on behalf of investors of SRS Labs, Inc. (“SRS” or the
“Company”) (NASDAQ: SRSL) (ISIN: US78464M1062) concerning the
proposed acquisition of SRS by DTS, Inc. (“DTS”), in a
cash-and-stock transaction valued at approximately $148
million.
The investigation concerns whether the SRS directors are
breaching their fiduciary duties by failing to adequately shop the
Company and maximize shareholder value. Under the terms of the
agreement, SRS shareholders would receive a value of approximately
$9.50 in cash and DTS shares per share of SRS common stock.
However, the price to Revenue, Total Assets and Book Value
multiples are below that of comparable deals. Additionally, the CEO
is expected to join the DTS board following the transaction. At
least one analyst has set a target price for SRS stock at $10 per
share.
SRS shareholders seeking more information about this acquisition
are advised to contact Rebecca Jarmon at rjarmon@pomlaw.com or
212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York, Chicago, and
Washington, D.C., is acknowledged as one of the premier firms in
the areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L. Pomerantz, known as the dean of the
class action bar, the Pomerantz Firm pioneered the field of
securities class actions. Today, more than 70 years later, the
Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of
fiduciary duty, and corporate misconduct. The Firm has recovered
numerous multimillion-dollar damages awards on behalf of class
members. See www.pomerantzlaw.com.
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