Newman Ferrara LLP has begun an investigation into potential claims against the Board of Directors of Tellabs, Inc. (“Tellabs”) (NasdaqGS: TLAB) concerning the proposed acquisition of Tellabs by global investment firm Marlin Equity Partners.
Tellabs has entered into an agreement and plan of merger to be acquired by Marlin Equity Partners in deal valued at approximately $891 million. Pursuant to the agreement, Tellabs shareholders will receive $2.45 per share in cash for each share of Tellabs stock owned. However, the offer price represents a premium of only 4.3% over the closing price of Tellabs stock on October 18, 2013 and is well below its 52-week trading high of $3.63 per share. The offer price is also below Tellabs’ book value per share of $2.80 per share, as of June 13, 2013.
Newman Ferrara’s investigation concerns whether the Tellabs Board of Directors has breached its fiduciary duties to act in the best interests of Tellabs shareholders and to take all necessary steps to ensure that Tellabs shareholders receive the maximum value readily available for their shares of Tellabs common stock.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at email@example.com or (212) 619-5400 to discuss this investigation, their rights, or potential remedies.Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.