Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by members of the Board of Directors of Applied Signal Technology, Inc. (NASDAQ: APSG) arising from the proposed acquisition of Applied Signal by Raytheon Company (NYSE: RTN) for $38.00 per share. The transaction is valued at approximately $490 million and is expected to close in the first quarter of 2011.

Weiss & Lurie is investigating whether Applied Signal’s Board acted in the best interests of shareholders in approving the transaction and whether it adequately shopped the Company to maximize shareholder value.

If you own common stock in Applied Signal and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at infony@weisslurie.com or by telephone at (888) 593-4771.

Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at infony@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.

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