NEW YORK, Aug. 13, 2015 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Planar Systems, Inc. (NASDAQ: PLNR) ("Planar" or the "Company") on behalf of its shareholders. Leyard Optoelectronic Co., Ltd. and Planar announced that they have entered into a definitive merger agreement, pursuant to which a U.S. affiliate of Leyard will acquire all of the common stock of Planar for a purchase price of $6.58 per share.
Our investigation has determined that the offer price of only $6.58 per share unfairly under-values the true going forward inherent value of Planar and that shareholders are not receiving the maximum value for their shares. Indeed, at least one analyst has opined the stock is worth at least $7.50 per share, the stock traded as high as $9.17 per share this past year, and the Company has no long term debt. The investigation further seeks to determine whether the senior management of Planar are entering into this deal for their own self-interests to the detriment of the Company's shareholders.
If you are a shareholder of Planar and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us at no cost at:
Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the "50 Elite Trial Lawyer Firms" and one of the "50 Leading Plaintiff Firms in America." Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC