The Briscoe Law Firm Investigates Ulticom, Inc. for Shareholders Concerning the Buy-Out by Platinum Equity, LLC
October 13 2010 - 2:01PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Ulticom, Inc. (“Ulticom” or ULCM”) (NASDAQ: ULCM) related to the
proposed acquisition of ULCM by Platinum Equity, LLC.
Under the terms of the agreement, shareholders will receive a
special dividend in the amount of $5.74 in cash to be paid at the
close of business on November 24, 2010, as well as $2.33 in cash
when the deal closes. This $8.07 buyout represents a 5% premium
over the closing price on October 11, 2010. Based on historical
stock prices as high as $9.48 on July 30, 2010, however, the
transaction appears to significantly undervalue the company.
Additionally, there is a separate purchase agreement for Comverse
Technology, a controlling shareholder of Ulticom, which will occur
immediately prior to the close of the merger and deferred at the
risk based on Ulticom’s financial performance post closing.
The investigation relates to possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Ulticom for approving this transaction and whether Ulticom’s Board
of Directors acted in the shareholders’ best interests.
If you currently own shares of Ulticom/ULCM and would like
additional information regarding this investigation, or if you have
information regarding the allegations involving this transaction,
please contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie
Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or
via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or
fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
Ulticom (MM) (NASDAQ:ULCM)
Historical Stock Chart
From Apr 2024 to May 2024
Ulticom (MM) (NASDAQ:ULCM)
Historical Stock Chart
From May 2023 to May 2024
