Levi & Korsinsky is investigating the Board of Directors of Opnext, Inc. (“Opnext” or the “Company”) (Nasdaq: OPXT) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Oclaro, Inc. (Nasdaq: OCLR). Under the terms of the agreement, Opnext shareholders will receive 0.42 shares of Oclaro, Inc. for every Opnext share they own, or approximately $1.96 per share, based on the previous closing of Oclaro stock. The transaction has a total approximate value of $177 million.
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The investigation concerns whether the Opnext Board of Directors breached their fiduciary duties to Opnext stockholders by failing to adequately shop the Company before entering into this transaction and whether Oclaro, Inc. is underpaying for Opnext shares, thus unlawfully harming Opnext stockholders. In particular, Opnext reported a book value of $2.01 per share for the most recent quarter.
If you own common stock in Opnext and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.