Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of LeCroy Corporation (NASDAQ:LCRY) arising from its agreement for LeCroy to be acquired by Teledyne Technologies Inc. for $14.30 per share.
Weiss & Lurie is investigating whether LeCroy’s Board acted in the best interests of shareholders in approving this deal. In approving the deal, the Board may have breached its duties to shareholders by failing to properly maximize the value of LeCroy’s shares. Just before the deal’s announcement, some analysts had set the price target for LeCroy stock above the $14.30 per share offer, with a high target of $16.00 per share.
In its recent third quarter fiscal 2012 ended on March 31, 2012, LeCroy reported solid financial results “meeting the high-end of [its] top and bottom-line expectations.” Indeed, it reported its 9
consecutive quarter of year-over-year revenue growth with revenue rising 5.1% from to $48.8 million compared to $46.5 million during the same quarter in 2011.
As part of the deal, insiders may have secured special benefits for themselves. For example, upon the consummation of the proposed acquisition, LeCroy’s current leadership team is expected to remain the same and the unvested options will be permitted to accelerate, thereby providing insiders with consideration for otherwise unmarketable stock.
If you own LeCroy shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun, Esq. either by telephone at (888) 593-4771 or by email at
Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing, consumer fraud, or anti-trust violations, please email us at
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