The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of LeCroy Corporation In Connection With The Sale Of The Company To Teledyne Technologies Incorporated
NEW YORK, May 31, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of LeCroy Corporation ("LeCroy" or the "Company") (Nasdaq: LCRY) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Teledyne Technologies Incorporated (NYSE: TDY). (Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO) Click here to learn how to join the action: http://zlk.9nl.com/lecroy-corporation-lcry, or call: 877-363-5972. There is no cost or obligation to you. Under the terms of the transaction, LeCroy shareholders will receive $14.30 for each share of LeCroy stock they own. The transaction has a total approximate value of $291 million, taking into account the Company's stock options, appreciation rights, and net debt. The investigation concerns whether the LeCroy Board of Directors breached their fiduciary duties to LeCroy stockholders by failing to adequately shop the Company before entering into this transaction and whether Teledyne Technologies Incorporated is underpaying for LeCroy shares, thus unlawfully harming LeCroy stockholders. In particular, at least one analyst set a price target for LeCroy stock at $16.00 per share. If you own common stock in LeCroy and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/lecroy-corporation-lcry. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLP Joseph Levi, Esq.Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com
Shares of LeCroy Corporation (Nasdaq:LCRY) have taken a tremendous swing upward. The stock is trading at $14.15 as of 9:30 a.m. ET, 54.8% above Friday's closing price of $9.14. Volume is at 4.3 million, 68.5 times the daily average of 63,100.
Shares of LeCroy Corporation (Nasdaq:LCRY) have taken a tremendous swing upward. The stock is trading at $10.57 as of 2:09 p.m. ET, 20.5% above Tuesday's closing price of $8.77. Volume is at 262,746, 2.5 times the daily average of 105,500.
LeCroy Corporation (Nasdaq:LCRY) hit a new 52-week high Monday as it changed hands at $15.64 compared with its previous 52-week high of $15.50. LeCroy is currently trading at $15.62 with 10,991 shares changing hands as of 9:30 a.m..