Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of GeoEye, Inc. (“GeoEye” or the “Company”) (Nasdaq: GEOY) relating to the proposed acquisition by DigitalGlobe, Inc. (“DigitalGlobe”). Under the terms of the transaction, GeoEye shareholders would receive only 1.137 shares of DigitalGlobe common stock and $4.10 per share, or $20.27 in cash, or 1.425 shares of DigitalGlobe common stock for each share of GeoEye stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of GeoEye for not acting in the Company’s shareholders' best interests in connection with the sale process to DigitalGlobe. The transaction may undervalue GeoEye as GeoEye stock traded at $36.65 per share on October 28, 2011 and $24.03 per share as recently as May 3, 2012. In addition, an analyst has placed a $30.00 price target on the stock. If you own shares of GeoEye stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/460-geoy-geoeye-inc.html, or by calling toll free 877-LEGAL-90.
GeoEye (Nasdaq:GEOY) hit a new 52-week low Monday as it is currently trading at $17.92, below its previous 52-week low of $17.98 with 23,389 shares traded as of 10:10 a.m. ET. Average volume has been 277,200 shares over the past 30 days.