SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of XRS Corporation (NASDAQ: XRSC) breached their fiduciary duties in connection with the proposed sale of the Company to Omnitracs, LLC.
XRS provides compliance and fleet management solutions to the commercial trucking industry in the United States and Canada.
On September 2, 2014, XRS announced it had signed a definitive agreement to be acquired by Omnitracs. Under the terms of the agreement Omnitracs will pay $5.60 per share of XRS, which equates to $178 million in equity value.
If you are a shareholder of XRS and believe (1) the proposed buyout price is too low or (2) you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.