Rigrodsky & Long, P.A. Investigates LaserCard Corporation Buyout
21 December 2010 - 10:25AM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of LaserCard
Corporation (“LaserCard” or the “Company”) (Nasdaq: LCRD)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired by ASSA ABLOY AB (“ASSA ABLOY”) in a transaction valued at
approximately $80 million. Click here to learn how to join the
action:
http://www.rigrodskylong.com/news/LaserCardCorporation-LCRD.
Under the proposed agreement, a subsidiary of ASSA ABLOY will
commence a cash tender offer to acquire LaserCard’s outstanding
shares of common stock at $6.25 per share, net to each holder in
cash.
The investigation concerns whether LaserCard’s board of
directors failed to adequately shop the Company and obtain the best
price possible for LaserCard’s shareholders before entering into
the agreement with ASSA ABLOY. Upon LaserCard’s October 28, 2010
announcement of its financial results for the fiscal second quarter
of 2010, Robert DeVincenzi, President and CEO of LaserCard
commented: “We have achieved profitability over the past seven
quarters due to the ongoing contributions from our core customer
programs and the previously implemented refinements to our cost
model[.]”
If you own the common stock of LaserCard and purchased your
shares before December 20, 2010, if you have information or would
like to learn more about these claims, or if you wish to discuss
these matters or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case
Development Director, of Rigrodsky & Long, P.A., 919 N. Market
Street, Suite 980, Wilmington, Delaware, by telephone at (888)
969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Lasercard (NASDAQ:LCRD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Lasercard (NASDAQ:LCRD)
Historical Stock Chart
From Sep 2023 to Sep 2024