The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of SRS La...
April 18 2012 - 6:30AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
SRS Labs, Inc. (“SRS Labs” or the “Company”) (Nasdaq: SRSL) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to DTS, Inc.
(Nasdaq: DTSI). Under the terms of the agreement, SRS Labs
shareholders may elect to receive either $9.50 or 0.31127 shares of
DTS common stock for each share of SRS Labs common stock they own.
Shareholders representing approximately 20% of the outstanding SRS
Labs shares have agreed to tender their shares.
Click here to learn how to join the action:
http://www.zlk.com/srs-labs-srsl, or call: 877-363-5972. There is
no cost or obligation to you.
The investigation concerns whether the SRS Labs Board of
Directors breached their fiduciary duties to SRS Labs stockholders
by failing to adequately shop the Company before entering into this
transaction and whether DTS, Inc. is underpaying for SRS Labs
shares, thus unlawfully harming SRS Labs stockholders. In
particular, at least one analyst set a price target for SRS Labs
stock at $10.00 per share.
If you own common stock in SRS Labs 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 http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. 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 securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. 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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