The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Tekelec
November 07 2011 - 11:33PM
Business Wire
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.
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