Levi & Korsinsky, LLP Investigates Possible Breach Of Fiduciary Duty By The Board Of White Electronic Designs Corp. - WEDC
Levi & Korsinsky is investigating the Board of Directors of White Electronics Designs Corp. (“WEDC” or the “Company”) (NasdaqGM: WEDC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Microsemi Corporation ("Microsemi") (NasdaqGS: MSCC). Under the terms of the transaction, WEDC shareholders will receive $7.00 in cash for each WEDC share of common stock they own for a total transaction value of approximately $163 million, or a net transaction value of approximately $100 million, net of WEDC's projected cash balance at closing.
The investigation concerns whether the WEDC Board of Directors breached their fiduciary duties to WEDC stockholders by failing to adequately shop the Company before entering into this transaction and whether Microsemi is underpaying for WEDC shares, thus unlawfully harming WEDC stockholders.
If you own common stock in WEDC and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/wedc1.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
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