Juan E. Monteverde
, a partner at
Faruqi & Faruqi, LLP
, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Performance Technologies Inc. (“Performance Tech” or the “Company”) (NasdaqGM: PTIX) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Sonus Networks in a cash deal valued at approximately $30 million. Under the terms of the proposed transaction, Performance Tech’s stockholders will receive $3.75 for each share of Performance Tech common stock they own.
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The investigation focuses on whether Performance Tech’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Performance Tech’s shareholders.
Faruqi & Faruqi, LLP
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If you own common stock in Performance Technologies and wish to obtain additional information and protect your investments free of charge, please visit us at
or contact Juan E. Monteverde, Esq. either via e-mail at
or by telephone at (877) 247-4292 or (212) 983-9330.
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