DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Ultratech, Inc. (“Ultratech”) (NasdaqGS: UTEK) concerning the sale to Veeco Instruments Inc. (NasdaqGS: VECO). Under the terms of the agreement, Ultratech shareholders will only receive $21.75 in cash and 0.2675 of a share of Veeco common stock for each Ultratech share owned. Based on the closing price of Veeco before the deal was announced, the total consideration is valued at approximately $28.64, which is virtually no premium over the 52-week high and lower than at least one analyst’s estimated value of $30.00 per share.
If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to our investigation of the fairness of the proposed transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org or by calling (214) 643-6011. There is no cost or fee to you.
The investigation centers on whether Ultratech’s Board of Directors is acting in the shareholders’ best interests, whether the board considered alternatives to the acquisition, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance believes the true inherent value of the stock could be as high as $30.00.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.