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Nov. 17, 2011 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of
Powers Taylor, LLP are investigating the sale of Valpey-Fisher Corporation ("Valpey" or "VPF") (NASDAQCM: VPF) to CTS Corporation for shareholders. Under the proposed acquisition agreement, Valpey shareholders will only receive
$4.15 in cash for each share of Valpey/VPF stock owned, which is significantly lower than the closing price of VPF stock as recently as
March 1, 2011.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact
Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The investigation centers on whether Valpey's shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Valpey's stock, and whether Valpey's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. In particular, as recently as
March 1, 2011, Valpey shares closed at
$4.37 per share, or approximately 5% higher than the acquisition price currently being offered to Valpey shareholders. In addition, Valpey's Board of Directors, which hold approximately 33% of Valpey's outstanding common stock, have agreed to tender their shares in favor of the buyout. Based on these and other factors, the firms do not believe that the transaction provides adequate compensation for Valpey shareholders.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
SOURCE Powers Taylor, LLP