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Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of WPCS International, Inc. (“WPCS” or the “Company”) (Nasdaq: WPCS) relating to the proposed acquisition by Multiband Corporation (“Multiband”).
Under the terms of the transaction WPCS shareholders would receive $3.20 in cash for each share of WPCS stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of WPCS by not acting in the WPCS shareholders' best interests in connection with the sale process to Multiband. The transaction may undervalue WPCS as WPCS stock traded at $3.41 on October 1, 2010 and an analyst has set a price target of $12.00 for the WPCS stock. In addition, WPCS has entered into a separate agreement to acquire an approximate 10% interest in WPCS.
If you own shares of WPCS stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at
http://brodsky-smith.com/302-wpcs-wpcs-international-inc.html, or by calling toll free 877-LEGAL-90.