NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Herley Industries, Inc. (Nasdaq: HRLY) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS). Under the terms of the proposed transaction, Herley shareholders will receive $19.00 in cash per share for a total transaction value of approximately $270 million.
The investigation concerns whether the Herley Board of Directors breached their fiduciary duties to Herley stockholders by failing to adequately shop the Company before entering into this transaction and whether Kratos is underpaying for Herley shares. The transaction price offers only a nominal premium over the $18.38 stock price that Herley shares traded at as recently December 29, 2010.
If you own common stock in Herley 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/herleyindustries.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.