NEW YORK, July 6, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MRV Communications, Inc. ("MRVC" or the "Company") (NASDAQ: MRVC) in connection with the proposed acquisition of the Company by ADVA Optical Networking. Under the terms of the acquisition agreement, the Company's shareholders will receive $10.00 for each MRVC share they own.
WeissLaw is investigating whether MRVC's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $13.50, or $3.50 above the offer price. Additionally, the Company recently announced positive financial results, reporting a second consecutive quarter of double-digit year-over-year growth. MRV announced a 12% increase in revenue, and a 17% increase in packet and optical revenue in the first quarter of fiscal year 2017.
Given these facts, WeissLaw is investigating whether MRVC's Board acted in the best interests of MRVC's public shareholders to maximize shareholder value prior to entering into the agreement. If you own MRVC shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Mark Smilow by telephone at (888) 593-4771 or by email at [email protected].
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 protected] or fill out the form on our website, http://www.weisslawllp.com/mrv-communications-inc/
SOURCE WeissLaw LLP