Law Office of Brodsky & Smith, LLC Announces Investigation of Tekelec
November 11 2011 - 11:59PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Tekelec. (“Tekelec” or the “Company”) (Nasdaq - TKLC) relating to
the proposed acquisition by a consortium led by Siris Capital
Group, LLC (“Siris”).
Under the terms of the transaction, Tekelec shareholders would
receive $11.00 in cash for each share Tekelec stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Tekelec
for not acting in the Company’s shareholders' best interests in
connection with the sale process to Siris. The transaction may
undervalue Tekelec as Tekelec stock traded at $19.74 on April 20,
2010 and traded at $12.04 as recently as February 8, 2011. In
addition, an analyst has set a price target of $16.00 per share for
Tekelec stock.
If you own shares of Tekelec stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/358-tklc-tekelec.html, or by calling toll
free 877-LEGAL-90.
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