Law Office of Jonathan M. Stein, P.L., Investigates Possible Breach of Fiduciary Duty by the Board of SRA International, Inc.
April 01 2011 - 10:37AM
Business Wire
The Law Office of Jonathan M. Stein, P.L. is investigating the
Board of Directors of SRA International, Inc. ("SRA" or the
"Company") (NYSE: SRX) for possible breaches of fiduciary duty and
other violations of state law in connection with their attempt to
complete a sale of the Company to an affiliate of Providence Equity
Partners. Under the terms of the proposed transaction, SRA
shareholders are to receive $31.25 in cash for each share of SRA
common stock, for a total value of approximately $1.88 billion.
The investigation involves whether the Board of Directors of SRA
breached their fiduciary duties to SRA stockholders by failing to
adequately shop the Company before agreeing to enter into the
transaction and whether SRA has disclosed all material information
to shareholders about the proposed transaction. Specifically, Dr.
Volgenau, the Company’s founder and chairman, will roll over a
portion of his existing SRA equity interest and continue to be a
significant shareholder in the privately held company. Dr. Volgenau
currently owns 21% of the total outstanding shares and 71% of
voting rights.
If you own stock in SRA and wish to obtain additional
information about your rights, or if you have information regarding
the above investigation, please contact Jonathan M. Stein, Esq.
either via email at jstein@jonathansteinlaw.com or by telephone at
(561) 961-2244.
The Law Office of Jonathan M. Stein, P.L. represents
shareholders and consumers in complex litigation, including class
action and derivative litigation. More information about the firm
is available through its website, www.jonathansteinlaw.com, and
upon request from the firm. Jonathan M. Stein is the attorney
responsible for the content of this release.
Jonathan M. Stein, Esq. Law Office of Jonathan M. Stein, P.L. 120
E. Palmetto Park Rd., Suite 420 Boca Raton, FL 33432 (561) 961-2244
jstein@jonathansteinlaw.com
www.jonathansteinlaw.com
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