The Law Office of Joseph Klein is investigating the Board of Directors of Applied Signal Technology, Inc. (“Applied Signal”) (NasdaqGS: APSG) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Raytheon Company (NYSE: RTN). Under the terms of the proposed transaction, Raytheon will acquire Applied Signal in a cash tender offer of $38.00 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. The offer price represents only an eight-percent premium to Applied Signal’s closing price on December 17, 2010. If you own common stock in Applied Signal and wish to obtain additional information, please contact Joseph Klein, Esq. directly, via email at firstname.lastname@example.org, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit http://goo.gl/CRDk1. Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.