BOSTON, April 19, 2012 /PRNewswire/ -- Block &
Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors
nationwide, has commenced an investigation into possible breaches
of fiduciary duties by the Board of Directors of SRS Labs, Inc.
("SRS Labs" or the "Company") (NASDAQ: SRSL) with regards to the
proposed acquisition of the Company by DTS, Inc. ("DTS") in a cash
and stock transaction valued at about $148
million.
Under the terms of the deal, 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. SRS Labs
shares have traded higher than the cash offer price as recently as
July 2011 and at least one financial
analyst has set a price target of $10.00 per share. Thomas C.K. Yuen, the Chairman and CEO of SRS
Labs will take a position on the DTS Board upon consummation of the
transaction, which demonstrates his lack of independence.
Block & Leviton's investigation seeks to determine, among
other things, whether SRS Labs Directors breached their fiduciary
duties by failing to maximize shareholder value in the proposed
transaction. If you have information relevant to this
investigation, or if you are an SRS Labs shareholder and have
questions about your legal rights, please contact Mark Delaney at (617) 398-5650 or email him at
Mark@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors
for violations of securities laws. The firm's lawyers have
collectively been prosecuting securities cases on behalf of
investors for over 50 years.
This notice may constitute attorney advertising.
Contact:
|
BLOCK
& LEVITON LLP
|
|
Mark Alan
Delaney, Esq.
|
|
Mark@blockesq.com
|
|
(617)
389-5650
|
SOURCE Block & Leviton LLP