Faruqi & Faruqi, LLP Investigates the Acquisition of Applied Signal Technology, Inc.By Avik, Gaea News Network
Wednesday, December 22, 2010
NEW YORK (GaeaTimes.com) — Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Applied Signal Technology, Inc. (”Applied Signal” or the “Company”) (NASDAQ: APSG) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Raytheon Co. (NYSE: RTN) for an estimated $490 million. The proposed transaction offers Applied Signal shareholders to only receive $38.00 a share. The transaction is expected to close in 2011’s first quarter.
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Whether the Applied Signal’s Board of Directors breached their fiduciary duties to Applied Signal’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Applied Signal’s shares and by how much this proposed transaction undervalues the Company to the detriment of Applied Signal shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.
If you own common stock in Applied Signal and wish to obtain additional information, please visit us at www.faruqilaw.com/APSG or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.