The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of SRA International, Inc. ("SRA" or the "Company") (NYSE: SRX) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to an affiliate of Providence Equity Partners. Under the terms of the proposed transaction, SRA shareholders are to receive $31.25 in cash for each share of SRA common stock, for a total value of approximately $1.88 billion. The investigation involves whether the Board of Directors of SRA breached their fiduciary duties to SRA stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether SRA has disclosed all material information to shareholders about the proposed transaction. Specifically, Dr. Volgenau, the Company’s founder and chairman, will roll over a portion of his existing SRA equity interest and continue to be a significant shareholder in the privately held company. Dr. Volgenau currently owns 21% of the total outstanding shares and 71% of voting rights. If you own stock in SRA and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at firstname.lastname@example.org or by telephone at (561) 961-2244. The Law Office of Jonathan M. Stein, P.L. represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, www.jonathansteinlaw.com, and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.
SRA International (NYSE:SRX) hit a new 52-week high Wednesday as it changed hands at $29.89 compared with its previous 52-week high of $27.70. SRA International is currently trading at $28.48 with 990,877 shares changing hands as of 3:01 p.m..