SAN DIEGO, Feb. 29, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of API Technologies Corp. (NASDAQ: ATNY) breached their fiduciary duties in connection with the proposed sale of the Company to J. F. Lehman & Company.
Additional Information: API designs, develops and manufactures systems, subsystems, modules and components for radio frequency (RF) microwave, millimeterwave, electromagnetic, power and security applications.
On February 29, 2016, API announced it had signed a definitive merger agreement with J. F. Lehman. Under the terms of the agreement, a newly formed affiliate of J.F. Lehman will acquire all of the outstanding shares of APIs' common stock for $2.00 per share in cash in a merger transaction.
The investigation concerns whether the API 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 API shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $3.75 price target on the stock.
If you are a shareholder of API 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.
Contact: Johnson & Weaver, LLP Jim Baker, 619-814-4471 firstname.lastname@example.org
SOURCE Johnson & Weaver, LLP