The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of SRA Intern...
April 05 2011 - 2:47PM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of SRA International, Inc. (NYSE: SRX) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to an affiliate of
Providence Equity Partners. Under the terms of the proposed deal,
SRA shareholders will receive $31.25 in cash per share of SRA
common. The transaction has a total approximate value of $1.88
billion.
The investigation concerns whether the SRA Board of Directors
breached their fiduciary duties to SRA stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Providence is underpaying for SRA shares. Dr. Volgenau,
the Company’s founder and chairman, currently owns 21% of the total
outstanding shares and 71% of voting rights of the company and has
agreed to vote in favor of the transaction.
If you own common stock in SRA 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/sra-international.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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