The Briscoe Law Firm Announces Investigation Of Gerber Scientific Inc.
Briscoe Law Firm, PLLC, founded by a former state prosecutor and
enforcement attorney for the United States Securities and Exchange
Commission, and the securities litigation law firm of
The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Gerber Scientific Inc. (“Gerber Scientific” or “GRB”) (NYSE: GRB) related to the acquisition of Gerber Scientific by funds associated with the private equity firm Vector Capital. The definitive acquisition agreement, which was announced on June 13, 2011, involves an all-cash transaction valued at approximately $282 million. Under the proposed buyout, Gerber Scientific shareholders will receive only $11.00 in cash for each share of Gerber Scientific/GRB common stock they hold. The firms are investigating the fairness of the proposed transaction to Gerber Scientific shareholders and whether the shareholders are being underpaid for their stock, and whether Gerber Scientific’s Board of Directors acted in the shareholders’ best interests. In particular, although the acquisition price represents an approximate 24% premium over Gerber Scientific’s average 30-day closing price, Gerber Scientific shares closed at nearly $9.70 per share as recently as May 31, 2011. Further, Gerber Scientific shares have increased in value approximately 45% over the past 12 months. Based on these and other factors, the firms are investigating whether the acquisition price is fair to Gerber Scientific shareholders. If you currently own shares of Gerber Scientific/GRB and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you. The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.
Gerber Scientific (NYSE:GRB) hit a new 52-week high Friday as it is currently trading at $11.18, above its previous 52-week high of $11.15 with 9,721 shares traded as of 10:16 a.m. ET. Average volume has been 492,800 shares over the past 30 days.
Shares of Gerber Scientific (NYSE:GRB) have taken a tremendous swing upward. The stock is trading at $10.87 as of 9:31 a.m. ET, 33.9% above Friday's closing price of $8.12. Volume is at 11.6 million, 217.1 times the daily average of 53,200.
Shares of Gerber Scientific (NYSE:GRB) have taken a tremendous swing upward. The stock is trading at $9.47 as of 9:56 a.m. ET, 20.9% above Wednesday's closing price of $7.83. Volume is at 27,319, 0.4 times the daily average of 61,900.