Abraham, Fruchter & Twersky, LLP has commenced an investigation on the board of directors of Tollgrade Communications, Inc. (“Tollgrade” or the “Company”) (NASDAQ:TLGD) for possible breaches of fiduciary duty and other violations of state and federal securities laws related to a proposed acquisition of Tollgrade by an affiliate of Golden Gate Capital.
On February 22, 2011, Tollgrade announced that it had entered into a definitive merger agreement to be acquired by an affiliate of Golden Gate Capital in a transaction valued at approximately $137 million. Under the terms of the transaction, Tollgrade’s common stockholders will receive $10.10 per share in cash. Abraham, Fruchter & Twersky, LLP is investigating whether the $10.10 per share being offered is a fair price. The firm is also investigating whether the proposed transaction is the product of a flawed process designed to ensure the Company’s sale on terms favorable to Golden Gate Capital and its affiliate, but detrimental to the public shareholders.
If you own shares of Tollgrade and would like to discuss this action, or if you have any questions concerning this notice or your rights as a potential class member or lead plaintiff, you may contact: Philip T. Taylor of Abraham, Fruchter & Twersky, LLP toll free at (800) 440-8986, or via e-mail at firstname.lastname@example.org or email@example.com.
Abraham, Fruchter & Twersky, LLP has extensive experience in shareholder and securities class action cases, and the firm has been ranked among the leading class action law firms in terms of recoveries achieved by a survey of class action law firms conducted by Institutional Shareholder Services.Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.