Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Applied Signal Technology, Inc. (“Applied Signal” or the “Company”) (Nasdaq: APSG) concerning its potential acquisition by Raytheon Company. Under the terms of the offer, Raytheon will commence a tender offer to purchase all of Applied Signal’s outstanding shares for $38.00 per share in cash for an aggregate purchase price of $490 million. The investigation is focused on the potential unfairness of the deal price to Applied Signal’s shareholders, the process by which Applied Signal’s directors considered the transaction, and potential conflicts of interests on the part of Applied Signal Board members. The tender offer price represents a mere 8% premium to Applied Signal’s closing price on December 17, 2010. If you are interested in discussing your rights as an Applied Signal shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at firstname.lastname@example.org. Finkelstein Thompson LLP has spent over three decades delivering outstanding representation to institutional and individual clients in financial litigation, and has been appointed as lead or co-lead counsel in dozens of shareholder class actions. Indeed, the firm has served in leadership roles in cases that have recovered over $1 billion for investors and consumers. To learn more about Finkelstein Thompson LLP, please visit our web site at www.finkelsteinthompson.com. Attorney advertising. Prior results do not guarantee similar outcomes.