Kendall Law Group, led by former federal judge Joe Kendall, is investigating Gerber Scientific Inc. (NYSE: GRB) (“Gerber”) for shareholders in connection with the proposed acquisition of the company by Vector Capital Corporation (“Vector”). The national securities firm’s investigation seeks to determine whether Gerber and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide the best value for shareholders. If you are a Gerber shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org. On June 13, 2011, the companies announced the definitive merger agreement under which Gerber would be acquired by Vector, in a transaction valued at approximately $281 million. Under the terms of the agreement, Gerber stockholders will receive $11.00 in cash for each share they own. The offer represents approximately 22% premium over Gerber’s average trading price for the last 30 days. However, Gerber was closed at $9.84 on April 6, 2011 and $9.69 as recently May 31, 2011. The firm’s investigation seeks to determine whether Gerber and its Board undertook a fair process in negotiating the deal. Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
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.