Management Buyout of SRA International Investigated by Tripp Levy PLLC
April 01 2011 - 9:39AM
Business Wire
Tripp Levy PLLC, a leading national securities law firm,
announces an investigation into the proposed acquisition of SRA
International, Inc. (NYSE: SRX). SRA announced that it has entered
into a definitive merger agreement under which SRA will be acquired
by an affiliate of Providence Equity Partners. Pursuant to terms of
the agreement, SRA shareholders will receive $31.25 in cash for
each share of common stock. SRA Founder and Chairman Dr. Ernst
Volgenau, who owns approx. 71% of SRA’s voting stock, has agreed to
vote in favor of the transaction and will roll over a portion of
his existing SRA equity interest and continue to be a significant
shareholder in the privately held company, as well as Chairman of
the SRA Board.
The investigation concerns, among other things, whether the
consideration to be paid to SRA shareholders is unfair, inadequate,
and substantially below the fair or inherent value of SRA. Indeed,
analysts have projected that SRA’s true going forward value is at
least $35 per share. The investigation further concerns whether Dr.
Ernst Vogenau as well as the board of directors of SRA may have
breached their fiduciary duties by not acting in SRA shareholders'
best interests in connection with the sale process of SRA.
If you own SRA common stock and you wish to discuss this matter
with us, or have any questions concerning your rights and interests
with regard to this matter, please contact
Tripp LevyTripp Levy PLLC125 East 82nd Street9th FloorNew York,
New YorkToll Free: 877-772-3975Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in
mergers & acquisitions, takeover litigation, shareholder
rights, and corporate governance matters in state and federal
courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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