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 FSI International, Inc. (NASDAQ: FSII) arising from its agreement for FSI to be acquired by Tokyo Electron Limited in a transaction valued at approximately $252.5 million. Under the terms of the agreement, FSI’s shareholders will receive $6.20 in cash for each share of FSI stock at closing. The acquisition, expected to close in calendar year 2012, will be completed pursuant to a cash tender offer followed by a second step merger.
Weiss & Lurie is investigating whether FSI’s Board acted in the best interests of shareholders in approving this deal. Multiple analysts have set a target price for FSI stock above $6.20, with a high target set at $7.50. Additionally, FSI recently announced its third quarter and first nine months fiscal 2012 financial results reporting a 98 percent sales increase to $50.8 million, compared to $25.6 million for the same period in fiscal 2011. Moreover, FSI’s net income for the first nine months of fiscal 2012 was $10.7 million, as compared to net income of $6.5 million for the first nine months of fiscal 2011. If you own FSI shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
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 (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.
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