Rigrodsky & Long, P.A. Announces Investigations Of OPNET Technologies, Inc., Schiff Nutrition International, Inc. And MOD-PAC Corp. Buyouts
WILMINGTON, Del., Nov. 6, 2012 /PRNewswire/ --
OPNET Technologies, Inc.
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of OPNET Technologies, Inc. ("OPNET" or the "Company") (NASDAQ GS: OPNT) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Riverbed Technology, Inc. ("Riverbed") (NASDAQ GS: RVBD) in a transaction valued at approximately $1 billion. Under the terms of the proposal, public shareholders of OPNET will receive $36.55 in cash and 0.2774 shares of Riverbed common stock for each share of OPNET they own. Based on Riverbed's closing stock price of $22.62 on October 26, 2012, OPNET shareholders would have received consideration valued at approximately $42.82 per share.
The investigation concerns whether OPNET's board of directors failed to adequately shop the Company and obtain the best possible value for OPNET's shareholders before entering into an agreement with Riverbed. According to Yahoo! Finance, at least one analyst has set a price target for OPNET stock at $43.00 per share.If you own the common stock of OPNET and purchased your shares before October 29, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/opnet-technologies-inc-opnt. Schiff Nutrition International, Inc. Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Schiff Nutrition International, Inc. ("Schiff" or the "Company") (NYSE: SHF) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Bayer HealthCare LLC ("Bayer") in a transaction valued at approximately $1.2 billion. Under the terms of the proposal, public shareholders of Schiff will receive $34.00 per share in cash for each share of Schiff they own. The investigation concerns whether Schiff's board of directors failed to adequately shop the Company and obtain the best possible value for Schiff's shareholders before entering into an agreement with Bayer.
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