NEW YORK, June 24, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of American Science and Engineering Inc. ("ASEI" or the "Company") in connection with the proposed acquisition of the Company by OSI Systems Inc. ("OSIS"). On June 21, 2016, the Company announced it had reached a definitive agreement for OSIS to acquire all outstanding shares of ASEI in a transaction valued at approximately $187 million. Under the terms of the agreement, ASEI shareholders will receive $37.00 in cash for each ASEI share they own.
WeissLaw is investigating whether ASEI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, ASEI shares traded at $40.77, or $3.77 above the offer price, as recently as January 7, 2016. Additionally, the offer price is significantly lower than the Company's 52-week high of $46.46. Further, the transaction is expected to be significantly accretive to OSIS' earnings, with expected growth of at least 10% per share in fiscal year 2018.
Given these facts, WeissLaw is investigating whether ASEI's Board acted in the best interests of ASEI's public shareholders to maximize shareholder value prior to entering into the agreement. If you own ASEI shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP