The Law Office of Abe Shainberg is investigating the Board of Directors of Applied Signal Technology, Inc. (“Applied Signal” or the “Company”) (NasdaqGS: APSG) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Raytheon Company (“Raytheon”) (NYSE: RTN). Under the terms of the transaction, Applied Signal shareholders will receive $38.00 in cash per share for a total transaction value of approximately $490 million.

The investigation concerns whether the Applied Signal Board of Directors breached their fiduciary duties to Applied Signal stockholders by failing to adequately shop the Company before entering into this transaction and whether Raytheon is underpaying for Applied Signal shares.

If you own common stock in Applied Signal and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at as@ashainberglaw.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/applied-signal-tech.html.

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

Copyright Business Wire 2010