Press Releases
Robbins Umeda LLP Announces An Investigation Of The Acquisition Of Brink's Home Security Holdings, Inc. By Tyco International Ltd.
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors (the "Board") of Brink's Home Security Holdings, Inc. ("Brink's") (NYSE: CFL), now operating as Broadview Security, in connection with their actions in causing Brink's to enter into a definitive merger agreement with Tyco International Ltd. ("Tyco") (NYSE: TYC). Under the terms of the merger agreement, Brink's shareholders can elect to receive: (a) $42.50 per share in cash; (b) a combination of $12.75 in cash and a fraction of a Tyco share equal to $29.75 divided by the volume-weighted average price of Tyco's stock on the New York Stock Exchange during the ten trading day period ending on the fourth full trading day prior to the closing date of the merger; or (c) Tyco shares equal to $42.50 divided by the volume-weighted average price described in (b) above. The deal is expected to close in the second half of Tyco's 2010 fiscal year, which began on September 26, 2009. Upon completion of the acquisition, Tyco intends to combine Brink's with Tyco's ADT security business.
Robbins Umeda LLP's investigation concerns whether the acceptance and recommendation of the offer by Brink's Board was fair and designed to secure the best possible value for all shareholders of Brink's. In addition, Robbins Umeda LLP is investigating whether the Board has disclosed to the shareholders of Brink's all material information to allow shareholders to make an informed decision of whether to vote in favor of the proposed acquisition and what type of consideration to elect. If you are a shareholder of Brink's, now known as Broadview Security, and would like more information about your rights as a shareholder, please contact attorney Lauren Levi at 800-350-6003 or by e-mail at llevi@robbinsumeda.com. Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com. AdvertisementTheStreet Premium Services
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