Measurement Specialties Securities Class Action
Measurement Specialties Securities Class Action: A law office recently noted that it filed a securities class action lawsuit against a sensor maker after it agreed to merge with another company.
Law office Brower Piven explained that it filed litigation in the Essex County branch of New Jersey Superior Court against Measurement Specialties, Inc. This was due to the company’s board of directors agreeing to the pending deal that would sell the company to TE Connectivity, ltd.
Shareholders who owned stock at the time of the merger would earn $86 in cash for each Measurement Specialties share owned. However, there may be breaches of fiduciary duty by the leaders of the company due to the low valuation. The board of directors at Measurement Specialties may not have done enough to increase the value for shareholders when coming to the agreement, and TE Connectivity may have gotten a deal that was priced too low.
For those that want to become lead plaintiff, it is possible to apply to the court. This position is not mandatory, and it is still an option to remain an absent class member. This would still allow shareholders to collect in the event of a financial return. The court has to approve any applicants to the position, as they will need to be adequate representatives of the class. The law firm has more details on this process.
It is an option for shareholders to discuss these matters, as well as how their rights may be affected, by contacting the law office. The best way to reach a representative is by telephone or email. There are also further details available on the law office’s website.
Measurement Specialties Securities Class Action
Second lawsuit filed
Another law office filed litigation against Measurement Specialties’ leaders in a state court due to many of the aforementioned reasons.
Levi and Korsinsky noted that it filed the class action lawsuit due to allegations of fiduciary duty breaches and state law violations. This lawsuit was also filed in the same court.
It is also an option to discuss matters with this law office. This can include how the case may affect shareholders, as well as related issues. The best person to get in touch with is Joseph Levi, and he can be contacted by telephone or email. There is further information available through the law firm’s website.