ADVANCED PHOTONIX, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout

Rigrodsky & Long, P.A.:
  • Do you own shares of Advanced Photonix, Inc. (NYSE MKT: API)?
  • Did you purchase any of your shares prior to February 2, 2015?
  • Do you think the proposed buyout value is too low?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Advanced Photonix, Inc. ("API" or the "Company") (NYSE MKT: API) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Luna Innovations Incorporated ("Luna") (NASDAQ CM: LUNA).

Click here to learn more: http://www.rigrodskylong.com/investigations/advanced-photonix-inc-api.

Under the terms of the agreement, shareholders of API will receive 0.31782 of a Luna common share for each share of API common stock. Based on Luna's closing stock price on January 30, 2015, API shareholders would have received consideration valued at approximately $0.53 per share.

The investigation concerns whether API's board of directors failed to adequately shop the Company and obtain the best possible value for API's shareholders before entering into an agreement with Luna. According to Yahoo! Finance, at least one analyst has issued a price target for API's stock at $0.65 per share.

If you own the common stock of API and purchased your shares before February 2, 2015, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://www.rigrodskylong.com/investigations/advanced-photonix-inc-api.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

Copyright Business Wire 2010

More from Press Releases

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

Meet the Real Money Pros: Market Strategies for 2012

Meet the Real Money Pros: Market Strategies for 2012