The Law Offices of Vincent Wong Announce an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Ultico...
October 27 2010 - 3:32PM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Ulticom, Inc. (NasdaqGM:ULCM) for possible breaches of
fiduciary duty and other violations of state law in connection with
their attempt to sell the Company to Platinum Equity, LLC. Under
the terms of the deal, Ulticom will be acquired by an affiliate of
Platinum Equity with Ulticom shareholders receiving $2.33 per share
in cash, after payment of a special dividend in the amount of $5.74
per share in cash. The transaction values Ulticom stock at $8.07
per share.
The Company's stock has traded as high as $10.68 per share as
recently as April 15, 2010 and at least one analyst set a price
target for Ulticom stock at $8.50 per share. The investigation
concerns whether the Ulticom Board of Directors breached their
fiduciary duties to Ulticom stockholders by failing to adequately
shop the Company before entering into this transaction and whether
Platinum Equity is underpaying for Ulticom shares.
If you own common stock in Ulticom and wish to obtain additional
information, please contact Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/ulticom-ulcm.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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