BALA CYNWYD, Pa., Feb. 3, 2017 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Ultratech, Inc. ("Ultratech" or "the Company") (Nasdaq- UTEK-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Veeco Instruments Inc. ("Veeco").
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Under the terms of the transaction, Ultratech shareholders will receive only $21.75 in cash and 0.2675 of a share of Veeco common stock for each share of Ultratech stock they own. The transaction values Ultratech at only approximately $28.64 per share. The investigation concerns whether the Board of Ultratech breached their fiduciary duties to shareholders and whether Veeco is underpaying for the Company. The transaction may undervalue the Company as the price being paid is both below an analyst price target of $30.00 per share and below the premium that was paid in comparable transaction.
If you own shares of Ultratech stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/ultratech-inc-nasdaq-utek/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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SOURCE Brodsky & Smith, LLC