Harwood Feffer LLP Announces Investigation Of Tekelec
Harwood Feffer LLP ( www.hfesq.com) is investigating potential claims against the board of directors of Tekelec (Tekelec or the Company) (NASDAQ: TKLC) concerning the proposal to take the Company private by a consortium led by Siris Capital Group, LLC and others (“Siris Consortium”) in a transaction valued at $780 million.
On November 7, 2011, Tekelec and the Siris Consortium announced that they had entered into a definitive agreement pursuant to which Tekelec would be acquired and taken private by the Siris Consortium. Under the terms of the agreement, the Siris Consortium will acquire all of the outstanding shares of common stock of Tekelec for $11.00 per share. At least one analyst has set a price target of $16.00 per share for Tekelec stock.
Our investigation concerns whether the board of directors has breached its fiduciary duties by failing to adequately shop the Company and whether the board undertook a fair process and obtained fair consideration for Tekelec stockholders.
If you own Tekelec shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
|Robert I. Harwood, Esq.|
|Peter W. Overs, Jr., Esq.|
|Harwood Feffer LLP|
|488 Madison Avenue|
|New York, New York 10022|
|Phone Numbers: (877) 935-7400|
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