Faruqi & Faruqi, LLP Announces Investigation of SRS Labs, Inc.
April 17 2012 - 7:00PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of SRS Labs, Inc. (“SRS Labs” or the “Company”) (NASDAQ:
SRSL), a leader in audio processing and enhancement technologies,
for potential breaches of fiduciary duties in connection with their
conduct related to the sale of the Company to DTS, Inc. (“DTS”)
(NASDAQ: DTSI), a leader in high-definition audio, in a
cash-and-stock transaction valued at about $148 million in
aggregate equity value, including acquired net cash of
approximately $38 million as of December 31, 2011. Under the terms
of the proposed transaction, SRS Labs shareholders may elect to
receive either $9.50 per share in cash or a fixed ratio of 0.31127
shares of DTS common stock for every share of SRS Labs common stock
they own, representing approximately $9.26 based on Monday’s close,
while according to Yahoo! Finance, at least one financial analyst
has set a price target of $10.00 for SRS Labs.
Request more information now by clicking here:
www.faruqilaw.com/SRSL. There is no cost or obligation to you.
Whether SRS Labs’ Board of Directors breached their fiduciary
duties to the Company’s stockholders by failing to conduct an
adequate and fair sales process prior to agreeing to this proposed
transaction, whether the proposed transaction undervalues SRS Labs’
shares and by how much this proposed transaction undervalues the
Company to the detriment of SRS Labs’ shareholders are the key
focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in SRS Labs and wish to obtain
additional information and protect your investment free of charge,
please visit us at www.faruqilaw.com/SRSL or contact Juan E.
Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or
by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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