This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Block & Leviton LLP Investigates Cybex International Inc. For Possible Breaches Of Fiduciary Duty In Connection With Its Proposed Going Private Transaction

BOSTON, Oct. 17, 2012 /PRNewswire/ -- Block & Leviton LLP (, a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duties by the Board of Directors of Cybex International, Inc. ("Cybex" or the "Company") (NASDAQGM: CYBI) with regards to their recently announced going private transaction, scheduled to close in the first quarter of 2013.

Under the terms of the agreement, Cybex shareholders will receive $2.55 in cash per Cybex share held at the time of the transaction.  This acquisition was purposely timed to take advantage of a temporary drop in the share price of Cybex.  As recently as April 26, 2012, Cybex traded above the price of the proposed transaction.  Block & Leviton's investigation seeks to determine, among other things, whether Cybex's Directors breached their fiduciary duties by failing to maximize shareholder value in the going private transaction and the process by which the Cybex Directors considered and approved the transaction. 

Cybex's price/earnings ratio indicates a significant discount compared to an average of 18.05 for the Leisure Equipment & Products industry and a significant discount compared to the S&P 500 average of 16.30.  Its price-to-book ratio of 1.18 indicates a discount versus the S&P 500 average of 2.21 and a significant discount versus the industry average of 5.80. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount.  Upon assessment of these and other key valuation criteria, Cybex currently trades at a significant discount and consummating the proposed transaction will deprive shareholders of realizing benefits inherent in its current under-valuation .

If you are a Cybex shareholder and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, Esq. at (617) 398-5600 or email him at  

Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.  This notice may constitute attorney advertising.

Contact:  BLOCK & LEVITON LLP  Steven P. Harte, Esq.  (617) 389-5600

SOURCE Block & Leviton LLP

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs