NEW YORK, Nov. 7, 2011 /PRNewswire/ -- Levi & Korsinsky
is investigating the Board of Directors of Tekelec ("Tekelec" or
the "Company") (NASDAQ: TKLC) for possible breaches of fiduciary
duty and other violations of state law in connection with the sale
of the Company to a consortium led by Siris Capital Group, LLC.
Under the terms of the transaction, Tekelec shareholders will
receive $11.00 for each share of
Tekelec stock they own. The transaction has a total
approximate value of $780 million.
Click here to learn how to join the action:
http://www.zlk.com/tekelec-tklc, or call: 877-363-5972.
The investigation concerns whether the Tekelec Board of
Directors breached their fiduciary duties to Tekelec stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Siris Capital Group, LLC is underpaying for
Tekelec shares, thus unlawfully harming Tekelec stockholders.
In particular, at least one analyst set a price target of
$16.00 per Tekelec share and Tekelec
shares traded as high as $12.10 as
recently as February 2011.
If you own common stock in Tekelec 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, California and Washington D.C. The firm has extensive
expertise in prosecuting investor securities litigation involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. 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 litigations
involving mergers and acquisitions. For more information,
please feel free to contact any of the attorneys listed below.
Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP