Murray, Frank & Sailer LLP is investigating claims of breach of fiduciary duty by certain members of the board of directors of Gerber Scientific Inc., (NYSE: GRB) (“Gerber” or the “Company”) in relation to the acquisition of the Company by Vector Capital Corp.,(“Vector”).
On June 13, 2011, Gerber and Vector announced that Vector will acquire Gerber pursuant to a transaction under which Gerber stockholders will receive $11.00 for each share of Gerber common stock, for an aggregate value of approximately $282 million. In addition, shareholders will get contingent cash payments if recoveries are made under certain litigation claims tied to a computerized "print to cut" technology patent.
Gerber, which makes automated manufacturing systems for sign making, specialty graphics and packaging, said in April it had completed a plan to exit the flatbed printer business in order to focus on its more profitable thermal printing products. The move was expected to lead to cost savings. It also disclosed plans to sell a Connecticut plant. In its most recent quarter, Gerber reported swinging to a profit on higher product sales and volumes, while restructuring expenses decreased.
The investigation concerns whether certain members of the board of directors breached their fiduciary duty in connection with their efforts to sell Gerber to Vector at an inadequate price through an unfair process which significantly undervalues the Company.If you are a current investor in Gerber, who purchased GRB shares before June 13, 2011, and you wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Katherine E. Smith (800) 497-8076 or (212) 682-1818, or by email at firstname.lastname@example.org.