NEW YORK--(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 firstname.lastname@example.org, 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.