SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of TeleCommunication Systems, Inc. (NASDAQ: TSYS) breached their fiduciary duties in connection with the proposed sale of the Company Comtech Telecommunications Corp.
TeleCommunication Systems develops and delivers wireless communication technology.
On November 23, 2015, TeleCommunication Systems announced that it had signed a definitive merger agreement with Comtech. Under the terms of the agreement, Comtech will pay $5.00 in cash for each TeleCommunication share of stock.
The investigation concerns whether the TeleCommunication board is acting in the shareholders’ best interests, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration especially given that one Wall Street analyst has a $6.00 price target on the stock.
If you are a shareholder of TeleCommunication and believe the proposed buyout price is too low or 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.