SAN DIEGO, June 21, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of American Science and Engineering, Inc. NASDAQ: ASEI) breached their fiduciary duties in connection with the proposed sale of the Company to OSI Systems, Inc. (NASDAQ: OSIS).
American Science manufactures, markets and sells X-ray inspection and other detection products for homeland security, force protection, public safety and other defense and security applications in the United States and internationally.
On June 21, 2016, American Science announced it had signed a definitive merger agreement with OSI. Under the terms of the agreement, American Science stockholders will receive $37.00 per share in cash.
The investigation concerns whether the American Science board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for American Science shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; especially given that American Science has no long term debt and over $80 million in cash. The 52-week high for American Science stock is $46.46.
If you are a shareholder of American Science and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP