September 2nd, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Burger King Holdings, Inc. (NYSE: BKC) for shareholders in connection with the proposed acquisition by 3G Capital Management Inc. The firm’s investigation seeks to determine whether Burger King and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Burger King shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On September 2, 2010 Burger King announced that the companies had entered into a definitive merger agreement under which Burger King would be acquired by 3G in a transaction valued at approximately $3.26 billion. Burger King stockholders would receive $24.00 in cash for each share of Burger King /BKC common stock held. John Chidsey, Burger King’s Chairman and CEO, will become co-chairman of the board of Burger King along with 3G Managing Partner Alex Behring as the other co-chairman. 3G will put approximately $400 million of equity into the deal, refinance approximately $800 million of existing debt, and borrow $2.8 billion.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: BKC, Burger Kign Holdings Inc., investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, NYSE: BKC, Securities, share, shareholder, stock, stockholder
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September 1st, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, announces a lawsuit filed on behalf of Wesco Financial Corp. (AMEX: WSC) shareholders in connection to the proposed buyout by Berkshire Hathaway Inc. The purpose of the lawsuit is to determine whether Wesco and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. Wesco shareholders are urged to contact the Kendall Law Group for more information at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 26, 2010, Berkshire Hathaway announced that it plans to buy the 19.9% stake it doesn’t already own by paying an amount equal to Wesco’s book value per share. Under the terms of the agreement, Wesco stockholders can choose to receive $353 in cash or Berkshire Class B shares, or a combination of the two for each share of Wesco stock held. Berkshire Hathaway currently owns 80.1% of Wesco. The complaint, filed on August 31, 2010, alleges that the consideration offered in the agreement to acquire Wesco is inadequate and unfair.
Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: AMEX: WSC, filed, Kendall Law Group, law, law firm, Lawsuit, lawsuit filed, litigation, Securities, share, shareholder, stock, stockholder, Wesco Financial Corporation, WSC
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September 1st, 2010
Kendall Law Group, led by former federal judge Joe Kendall, is investigating Salary.com, Inc. (NASDAQ: SLRY) for shareholders in connection with the proposed acquisition by Kenexa Corporation. The national securities firm is investigating whether a fair process was used prior to entering into the merger agreement and whether the Board of Directors breached their fiduciary duties by not seeking a deal that would provide better value for the shareholders. If you are a Salary.com shareholder and would like additional information about your rights, you are urged to contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On September 1, 2010 the companies announced that they have entered into a definitive merger agreement under which Salary.com would be acquired by Kenexa in a transaction valued at approximately $80 million. Under the terms of the agreement, Salary.com stockholders will receive $4.07 in cash for each share of Salary.com/SLRY common stock held. The firm’s investigation seeks to determine if the transaction is properly valuing the company.
Kendall Law Group, founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in many merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, management, Merger, NASDAQ: SLRY, Salary.com Inc., Securities, SLRY, unfair
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September 1st, 2010
Kendall Law Group, led by former federal judge Joe Kendall, is investigating American Physicians Service Group (NASDAQ: AMPH) for shareholders in connection with the proposed acquisition by ProAssurance Corporation. The national securities firm’s investigation seeks to determine whether AMPH and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an AMPH shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On September 1, 2010 the companies announced that they have entered into a definitive merger agreement under which AMPH would be acquired by ProAssurance in a transaction valued at approximately $233 million. Under the terms of the agreement, AMPH stockholders will receive $32.50 in cash for each share of AMPH common stock held. In addition, according to Thompson/First Call, at least one analyst has set a price target of $35.00 per share. Due to these factors, the firm believes the transaction significantly undervalues the company.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, American Physicians Service Group, AMPH, deal, investigation, Kendall Law Group, litigation, Merger, NASDAQ: AMPH, Securities, share, shareholder, stock, stockholder, unfair
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August 30th, 2010
Kendall Law Group, a national securities firm led by a former federal judge, is investigating A.D.A.M. Inc. (NASDAQ: ADAM) for shareholders in connection with the proposed acquisition by Ebix Inc. The firm is investigating whether A.D.A.M. properly shopped the Company prior to entering into the agreement. This possible breach of fiduciary duty may have kept the Company from reaching a deal that would provide better value for shareholders. If you are an A.D.A.M. shareholder and would like additional information about your rights, you are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 30, 2010 the companies announced that the companies have entered into a definitive merger agreement under which A.D.A.M. would be acquired by Ebix in a transaction valued at approximately $66 million. Under the terms of the agreement, A.D.A.M. stockholders will receive 0.3122 of Ebix stock for each share of A.D.A.M./ADAM common stock.
Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: A.D.A.M. Inc, acquisition, ADAM, deal, Ebix Inc., investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, Merger, NASDAQ: ADAM, Securities, share, shareholder, stock, stockholder, unfair
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August 30th, 2010
Kendall Law Group, led by former federal judge Joe Kendall, is investigating Cogent Inc. (NASDAQ: COGT) for shareholders in connection with the proposed acquisition by 3M. The national securities firm’s investigation seeks to determine whether Cogent and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Cogent shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 30, 2010 the companies announced that the companies have entered into a definitive merger agreement under which Cogent would be acquired by 3M in a transaction valued at approximately $900 million. Under the terms of the agreement, Cogent stockholders will receive $10.50 in cash for each share of Cogent/COGT common stock. Due to these factors, the firm believes the transaction significantly undervalues the company.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: 3M, acquisition, Cogent Inc, COGT, deal, investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, Merger, NASDAQ: COGT, Securities, share, shareholder, stock, stockholder, unfair
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August 27th, 2010
Kendall Law Group, a national securities firm led by a former federal judge, is investigating Wesco Financial Corp. (AMEX: WSC) for shareholders in connection with the proposed buyout by Berkshire Hathaway Inc. The firm is investigating whether Wesco properly shopped the Company prior to entering into the agreement. This possible breach of fiduciary duty may have kept the Company from reaching a deal that would provide better value for the Company. If you are a Wesco shareholder and would like additional information about your rights, you are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 26, 2010, Berkshire Hathaway announced that it plans to buy the 19.9% stake it doesn’t already own by paying an amount equal to Wesco’s book value per share. Under the terms of the agreement, Wesco stockholders can choose to receive $353 in cash or Berkshire Class B shares, or a combination of the two for each share of Wesco stock held. Berkshire Hathaway currently owns 80.1% of Wesco. Based on historical stock prices, the firm believes the transaction significantly undervalues the company.
Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, AMEX: WSC, Bershire Hathaway, Buyout, deal, investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, Merger, Securities, share, shareholder, stock, stockholder, unfair, Wesco Financial Corp., WSC
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August 26th, 2010
Kendall Law Group a national securities firm led by former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating NIC, Inc. (NASDAQ: EGOV) for shareholders. The investigation concerns potential breaches of fiduciary duties in connection with an ongoing investigation by the SEC regarding improper reporting of business expenses by a former officer of the company. Concerned long term holders, and those planning to hold onto their NIC shares, are encouraged to contact the Kendall Law Group today at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 5, 2010, NIC announced the SEC was considering a civil injunction against the company. The company reported the SEC believes the alleged conduct, which concerns then CEO and Chairman Jeffrey Fraser, has been going on for several years without action by company officers. NIC reported the SEC “believes that the Company and its Officer should have responded sooner and more completely to indications of potential misconduct by Mr. Fraser involving claiming personal expenses as reimbursable business expenses.” The Kendall Law Group’s investigation regarding NIC’s government entanglements will continue until answers can be obtained for shareholders.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a NIC shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: breach of fiduciary duties, EGOV, investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, NASDAQ: EGOV, NIC Inc, SEC, Securities, share, shareholder, stock, stockholder
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August 25th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating American Apparel, Inc. (AMEX: APP) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives regarding allegations that the company may have issued materially inaccurate statements to investors concerning its American Apparel’s 2009 financial results. Stockholders that purchased American Apparel common stock before or between January 1, 2008 and August 16, 2010 are urged to contact Scott Kendall of the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 29, 2010, Deloitte & Touche LLP, American Apparel’s auditor, announced it had resigned and that it had previously notified the company that its 2009 financial statements may not be reliable. Shortly thereafter, it was reported that the U.S. Attorney’s Office for the Southern District of New York subpoenaed documents related to American Apparel’s preparation and reporting of its financial statements. After news of the subpoena broke, American Apparel’s stock price dropped 66.5 percent.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are an American Apparel shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: American Apparel Inc., AMEX: APP, APP, board of directors, Executives, investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, Securities, share, shareholder, stock, stockholder
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August 24th, 2010
Kendall Law Group, led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Diamond Management & Technology, Inc. (NASDAQ: DTPI) for shareholders in connection with the proposed acquisition by PricewaterhouseCoopers LLP. The national securities firm’s investigation seeks to determine whether Diamond and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Diamond shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 24, 2010 Diamond and PricewaterhouseCooper announced that the companies have entered into a definitive merger agreement under which Diamond would be acquired by PricewaterhouseCooper in a transaction valued at approximately $378 million. Under the terms of the agreement, Diamond stockholders will receive $12.50 in cash for each share of Daimond common stock. While the companies have reported that the transaction represents a premium of 31% to Diamond’s August 23, 2010 closing stock price of $9.54, Diamond’s average closing share price was approximately $10.35 from June 1, 2010 through August 23. Additionally, according to Thompson/First Call, at least one analyst has set a $14.00 price target for Diamond shares.
Kendall Law Group was founded by a former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, Diamond Management and Technology Inc., DTPI, investigation, Kendall Law Group, law firm, Lawsuit, litigation, Merger, NASDAQ: DTPI, PricewaterhouseCoopers, Securities, share, shareholder, stock, stockholder, unfair
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August 23rd, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating CVB Financial Corporation (NASDAQ: CVBF) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives related to an ongoing investigation by the Securities and Exchange Commission (SEC). Purchasers of CVB common stock during the period between October 22, 2009 and August 9, 2010 are urged to contact Scott Kendall of the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 10, 2010, CVB announced that it received a subpoena from the SEC and that there was a corresponding non-public investigation. The investigation seeks to collect information about CVB’s loan underwriting guidelines and its methodology for grading loans and making provisions for loan losses. The SEC has also requested information about presentations CVB has given or conferences the bank has attended with analysts, brokers, investors or prospective investors. CVB shares prices dropped 22% on August 10 in apparent reaction to news of the investigation.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a CVB shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: CVB Financial Corporation, CVBF, finance, investigation, Kendall Law Group, litigation, NASDAQ: CVBF, SEC, Securities, share, shareholder, stock, stockholder
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August 20th, 2010
Kendall Law Group a national securities firm led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating SciClone Pharmaceuticals, Inc. (NASDQ: SCLN) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection with ongoing investigations into potential violations of the Foreign Corrupt Practices Act (FCPA). Concerned SciClone shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 5, 2010 SciClone was informed by the Securities and Exchange Commission (SEC) and a formal, non-public investigation of SciClone had been initiated. The SEC issued a subpoena requesting documents and other information related to a “range of matters including interactions with regulators and government-owned entities in China, activities relating to sales in China and documents relating to certain company financial and other disclosures.” On August 6, 2010, SciClone received a letter from the Department of Justice(DOJ) indicating that the DOJ, which was already investigating FCPA issues in the pharmaceutical industry generally, had received information about the Company’s practices suggesting possible violations. SciClone disclosed the investigations on August 9, 2010 and the following day SciClone’s stock prices fell approximately 30%.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a SciClone shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: FCPA, Foreign Corrupt Practices Act, law, law firm, Lawsuit, litigation, NASDAQ: SCLN, SciClone Pharmaceuticals, SCLN, Securities, share, shareholder, stock, stockholder, suit
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August 19th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, announced a new development in its investigation of Maxwell Technologies, Inc. (NASDAQ: MXWL) for shareholders. The investigation concerns potential breaches of fiduciary duties by certain directors and executives due to possible violations of the Foreign Corrupt Practices Act (FCPA). Concerned Maxwell shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
Maxwell had previously announced that they are engaged in an ongoing investigation into payments made to a former independent sales representative in China. The payments were recorded as commissions, but a portion of these payments were reportedly going either directly or indirectly to purchasers of the company’s products. In the company’s second quarter financial report filed with the Securities and Exchange Commission (SEC), filed on August 6, 2010, Maxwell disclosed that they have “negotiated an agreement in principle with the SEC to resolve the ongoing FCPA investigations for a payment of approximately $6.35 million… as well as certain other settlement terms.” Maxwell also disclosed that they have made an offer to the Department of Justice to settle the ongoing investigation for $6.35 million. Maxwell accrued an additional $3.4 million in the second quarter of 2010 for a potential settlement, adding to the previous accrual of $9.3 million made in the fourth quarter of 2009.
The Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a Maxwell shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: development, FCPA, Foreign Corrupt Practices Act, investigation, Kendall Law Group, law firm, Lawsuit, litigation, Maxwell Technologies, MXWL, NASDAQ: MXWL, new, Securities, share, shareholder, stock, stockholder
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August 19th, 2010
Kendall Law Group, led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating McAfee, Inc. (NYSE: MFE) for shareholders in connection with the proposed acquisition by Intel Corporation (NASDAQ: INTC). The national securities firm’s investigation seeks to determine whether McAfee and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a McAfee shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 19, 2010 Intel entered into a definitive agreement to acquire McAfee in a cash transaction valued at approximately $7.68 billion. Under the terms of the agreement, McAfee stockholders will receive $48.00 per share for each share of McAfee common stock held. Earlier this year, McAfee stock was trading for at or around $40 per share before tumbling on April 29 in response to the news that McAfee announced lower than expected earnings per share and revenue projections for the second quarter of 2010. Last year, McAfee “enjoyed double-digit, year-over-year growth and nearly 80 percent gross margins.” In addition, according to Thompson/First Call, at least one analyst has set a price target of $50.00 per share of McAfee stock.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, McAfee Inc., MFE, NYSE: MFE, Securities, share, shareholder, stock, stockholder
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August 18th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Phoenix Technologies Ltd. (NASDAQ: PTEC) for shareholders in connection with the proposed acquisition by affiliates of Marlin Equity Partners. The firm’s investigation seeks to determine whether Phoenix and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Phoenix shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 18, 2010, Phoenix announced that it had entered into a definitive merger agreement with affiliates of Marlin under which Marlin would acquire all outstanding shares of Phoenix common stock for $3.85 per share in cash. Tom Lacey, Phoenix president and chief executive officer, recently expressed optimism in the company’s financial future, stating that the company expected their “planned increase in sales to continue to translate directly” to their bottom line. In addition, according to Thompson/First Call, at least one analyst has set a price target of $4.00 per share for Phoenix stock.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: : Phoenix Technologies Ltd, acquisition, deal, investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, Merger, NASDAQ: PTEC, PTEC, Securities, share, shareholder, stock, stockholder, unfair
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August 17th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Osteotech, Inc. (NASDAQ: OSTE) for shareholders in connection with the proposed acquisition by Medtronic, Inc. The firm’s investigation seeks to determine whether Osteotech and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an Osteotech shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 17, 2010, Medtronic and Osteotech announced that they had signed a definitive agreement under which Medtronic will acquire Osteotech in a transaction valued at approximately $123 million. Under the terms of the agreement, Osteotech shareholders will recieve $6.50 for each share of Osteotech common stock held. Recently, Spencer Capital, Boston Avenue Capital LLC and Heartland Advisors, Inc., collective owners of approximately 24% of Osteotech outstanding common stock, called the company’s leadership into question through comments on Osteotech’s second quarter 2010 financial results, stating that they were “extremely skeptical” of the Osteotech’s board of directors’ “efforts to explore strategic alternatives to maximize shareholder value.”
Kendall Law Group was founded by a former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, investigation, Kendall Law Group, law firm, Lawsuit, litigation, MDT, Medtronic Inc., Merger, NASDAQ: OSTE, OSTE, Osteotech Inc, Securities, share, shareholder, stock, stockholder, unfair
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August 17th, 2010
Kendall Law Group, a national securities firm led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating ICx Technologies, Inc. (NASDAQ: ICXT) for shareholders in connection with the proposed acquisition by FLIR Systems, Inc. The firm’s investigation seeks to determine whether ICx and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an ICx shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 16, 2010, ICx entered into a definitive merger agreement with FLIR under which ICx would be acquired through a cash tender offer for $7.55 per share, followed by a merger with a subsidiary of FLIR. The deal price is a 12% premium over ICx’s closing price of $6.75 a share on Friday. The agreement contemplates that if available under Delaware law, a “short form” merger would be completed shortly following completion of the tender offer. Under Delaware law, if the acquiring company owns 90% of the target company, minority shareholder approval is not necessary to consummate the merger. Wexford Capital LP, which own approximately 62% of ICx common stock, has agreed to tender all of its shares in the tender offer. Additionally, according to Thompson/First Call, at least one analyst has set a price target of $10.00 per share of ICx common stock.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, ICx Technologies, ICXT, litigation, Merger, NASDAQ: ICXT, Securities, share, shareholder, stock, stockholder, unfair
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August 17th, 2010
Kendall Law Group, led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Pactiv Corp. (NYSE: PTV) for shareholders in connection with the proposed acquisition by Reynolds Group Holdings Limited. The national securities firm’s investigation seeks to determine whether Pactiv and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Pactiv shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 17, 2010 Pactiv announced that it had entered into a definitive merger agreement to be acquired by Reynolds Group Holdings Limited in a transaction valued at approximately $6 billion. Under the terms of the agreement, Pactiv shareholders will receive $33.25 in cash for each share of Pactiv common stock held. Pactiv reported that the offer price represented a “premium of approximately 39 percent over Pactiv’s closing price of $23.97 on May 14, 2010, the last trading day prior to published reports regarding a potential transaction.” While the price of Pactiv shares rose in apparent response to news of a potential acquisition, much of the news being released detailed a potential bidding war between Reynolds, Apollo Global Management, and Georgia-Pacific. The Wall Street Journal reported that Pactiv was initially in buyout talks with the private equity firm Apollo Global Management. Additionally, according to Thompson/First Call, at least one analyst has set a price target of $35.00 per share.
Kendall Law Group was founded by a former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, investigation, litigation, Merger, NYSE: PTV, Pactiv Corp, PTV, Securities, share, shareholder, stock, stockholder, unfair
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August 16th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating 3PAR, Inc. (NYSE: PAR) for shareholders in connection with the proposed acquisition by Dell Inc. (NASDAQ: DELL). The firm’s investigation seeks to determine whether 3PAR and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a 3PAR shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 16, 2010, Dell announced that it would purchase 3PAR in an all-cash transaction valued at approximately $1.13 billion. Under the terms of the agreement, 3PAR shareholders would be entitled to receive $18.00 per share of 3PAR common stock owned. The transaction has been approved by the boards of both companies and is expected to close this year. Included in the deal is a $53.5 million termination fee, which 3PAR would owe Dell under certain circumstances if the deal were terminated, and a no solicitation agreement.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: 3PAR Inc., acquisition, deal, litigation, Merger, NYSE: PAR, PAR, Securities, shaerholder, share, stock, stockholder, unfair
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August 16th, 2010
Kendall Law Group, led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Prospect Medical Holdings Inc. (NASDAQ: PZZ) for shareholders in connection with the proposed acquisition by an entity sponsored by Leonard Green & Partners, L.P. The national securities firm’s investigation seeks to determine whether Prospect Medical Holdings and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Prospect Medical Holdings shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 16, 2010, Prospect announced that it has entered into a definitive merger agreement to be acquired for $8.50 per share in cash. Certain Prospect directors and officers that are holders of approximately 10.4 million shares of Prospect’s outstanding common stock entered into a voting agreement to vote all of their shares in favor of the merger agreement. Those directors and officers have agreed to exchange more than half of their Prospect shares for equity interests in the sponsored purchasing entity. Additionally, according to Thompson/First Call, at least one analyst has set a price target of $16.20 per share of Prospect common stock.
Kendall Law Group was founded by a former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
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August 13th, 2010
Kendall Law Group, led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Trubion Pharmaceuticals, Inc. (NASDAQ: TRBN) for shareholders in connection with the proposed acquisition by Emergent BioSolutions Inc. The national securities firm’s investigation seeks to determine whether Trubion and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Trubion shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 12, 2010, Trubion announced that it had entered into a definitive merger agreement with Emergent BioSolutions Inc., in which Emergent has agreed to acquire Trubion.. Under the terms of the agreement, each share of Trubion common stock will be converted into the right to receive an upfront payment of $1.365 per share in cash and 0.1641 shares of Emergent stock, reported by the company as a value of $4.55 per share at the time of its announcement. Trubian closing share prices have reached as high $4.50 in late April of this year. In addition, according to Thompson/First Call, at least one analyst has set a price target of $7.00 per share.
Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, Emergent BioSolutions, firm, investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, Merger, NASDAQ: TRBN, Securities, share, shareholder, stock, stockholder, TRBN, Trubion Pharmaceuticals, unfair
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August 13th, 2010
Kendall Law Group, a national securities firm led by former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating Unica Corporation (NASDAQ: UNCA) for shareholders in connection with the proposed acquisition by IBM. The firm’s investigation seeks to determine whether Unica and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Unica shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 13, 2010, IBM announced that it has agreed to pruchase Unica for $480 million, or $21 per share. Unica is a recognized leader in marketing software solutions and boasts more than 1,500 customers worldwide. Unica has recently announced contracts with E.Leclerc, France’s leading retail chain with turnover of 27.2 billion Euros in 2009, to power its email marketing initiatives and with PartyGaming, the world’s leading listed online gaming company.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, IBM, investigation, Kendall Law Group, law, law firm, Lawsuit, Merger, NASDAQ: UNCA, Securities, share, shareholder, stock, stockholder, suit, UNCA, unfair, Unica Corporation
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August 13th, 2010
Kendall Law Group, led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Dynegy Inc. (NYSE: DYN) for shareholders in connection with the proposed acquisition by an affiliate of The Blackstone Group L.P. The national securities firm’s investigation seeks to determine whether Dynegy and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Dynegy shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 13, 2010, Dynegy announced that it has entered into a definitive merger agreement pursuant to which it will be acquired by an affiliate of The Blackstone Group L.P. Under the terms of the agreement, Dynegy stockholders will receive $4.50 in cash for each outstanding share of Dynegy common stock they own. Blackstone has also entered into an agreement with NRG Energy, whereby NRG Energy will acquire assets currently owned by Dynegy for approximately $1.36 billion. The consummation of the merger transaction is contingent upon the concurrent closing of the Blackstone and NRG Energy transaction. Dynegy stock had been trading at above $5.00 per share as recently as mid-June of this year. In addition, according to Thompson/First Call, at least one analyst has set a price target of $7.50 per share.
Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, DYN, Dynegy Inc., firm, law, law firm, Lawsuit, litigation, Merger, NYSE: DYN, Securities, share, shareholder, stock, stockholder, The Blackstone Group, unfair
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August 13th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Allis-Chalmers Energy, Inc. (NYSE: ALY) for shareholders in connection with the proposed acquisition by Seawell Limited, a subsidiary of SeaDrill Limited. The firm’s investigation seeks to determine whether Allis-Chalmers and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an Allis-Chalmers shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 13, 2010 Seawell and Allis-Chalmers announced that their Boards of Directors unanimously approved a definitive merger agreement under which Allis-Chalmers would be acquired by Seawell. Under the terms of the agreement, Allis-Chalmers stockholders will receive either $4.25 in cash or 1.15 Seawell common shares for each share of Allis- Chalmers common stock, subject to proration if more than 35% of the shares elect to receive cash. Seawell stock is currently traded on the NOTC list administered by the Norwegian Securities Dealers Association. Allis-Chalmers stock had a $4.20 closing price as recently as April 29, 2010. Additionally, according to Thompson/First Call, at least one analyst has set a price target of $7 per share.
Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquistion, Allis Chalmers Energy, Allis-Chalmers Energy Inc., ALY, deal, firm, investigation, Kendall Law Group, law, law firm, Lawsuit, litigation, Merger, NYSE: ALY, Securities, shareholder share, stock, stockholder, suit, unfair
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August 12th, 2010
Kendall Law Group, a national securities firm led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating Enzo Biochem Inc. (NYSE: ENZ) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives through the manipulation of stock option grant dates. Concerned Enzo shareholders are urged to contact Scott Kendall of the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
Certain stock options grants by Enzo to directors and officers were priced at or near the lowest closing price for the pertinent periods. Manipulation of stock option grant dates to maximize profits from the options is not necessarily illegal, but the grants must be properly reported. The Kendall Law Group’s investigation seeks to determine whether the directors and officers of Enzo injured shareholders by improperly granting backdated stock options.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are an Enzo shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: ENZ, Enzo Biochem, firm, Kendall Law Group, law, law firm, law suit, Lawsuit, litigation, NYSE: ENZ, Securities, share, shareholder, stock, stockholder
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August 11th, 2010
Kendall Law Group, led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating Orient Paper Inc. (AMEX: ONP) for shareholders. The national securities firm’s investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives due to the issuance of potentially materially false and misleading statements and the alleged failure to disclose adverse facts known to them regarding the company’s business and financial results. Orient Paper shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On July 16, 2010, Orient Paper announced that it had retained legal counsel and an audit firm to conduct an independent investigation into issues raised by a third party firm. The third party firm, Muddy Waters, questioned the veracity of the company’s Form 10-K filed on March 27, 2009, in which Orient Paper claimed to have generated over $65 million in net revenue during fiscal year 2008, and claimed to hold over $52 million in assets at year’s end. Shortly after the Muddy Water report became public, Oriental Paper stock experience a one-day decline of approximately 13%.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are an Orient Paper shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: AMEX: ONP, firm, investigation, Kendall Law Group, law, law firm, law suit, Lawsuit, litigation, ONP, Orient Paper, Securities, share, shareholder, stock, stockholder
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August 11th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating Team, Inc. (NASDAQ: TISI) for shareholders. The firm’s investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives due to potential violations of the Foreign Corrupt Practices Act (FCPA). Concerned Team, Inc. shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
In its annual report filed with the Securities and Exchange Commission on August 6, 2010, Team, Inc. disclosed that it had spent $3.2 million on internal investigation into potential violations of the FCPA. In the filing, the company stated that “we were informed of allegations of improper payments made by local employees of our wholly-owned Trinidad subsidiary to employees of certain customers, including foreign government owned enterprises.” The company went on to say that “monetary penalties could be assessed” against them and that the “nature, timing and amount of any monetary penalties depends on a number of factors which cannot reasonably be estimated at this time.”
Kendall Law Group, founded by former federal judge Joe Kendall, has the credentials and experience to pursue any type of complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a Team, Inc. shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: FCPA, firm, investigation, Kendall Law Group, law, law firm, law suit, Lawsuit, litigation, NASDAQ: TISI, Securities, share, shareholder, stock, stockholder, Team Inc., TISI
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August 11th, 2010
Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, is investigating The Washington Post Company (NYSE: WPO) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection to alleged fraudulent, deceptive, or otherwise questionable marketing practices. Washington Post shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 4, 2010, the Senate Health, Education, Labor, and Pensions Committee conducted a hearing on for-profit education firms, where Government Accountability Office representative, George Kutz, presented the findings of report GAO-10-948T, “For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices.” The report detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff, such as encouraging applicants to falsify their financial aid forms or pressuring applicants to sign enrollment contracts without speaking to financial advisors. Kaplan College in Florida, a Washington Post school, was named by Kutz as one of the schools that provided “deceptive and questionable” information.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a Washington Post shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: Kendall Law Group, law firm, Lawsuit, litigation, NYSE: WPO, Securities, share, shareholder, stockholder. stock, The Washington Post Company, WPO
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August 9th, 2010
Kendall Law Group, a national securities firm led by a former federal judge and former U.S. Attorney, is investigating Penwest Pharmaceuticals Co. (NASDAQ: PPCO) for shareholders in connection with the proposed acquisition by Endo Pharmaceuticals Holdings Inc. The firm’s investigation seeks to determine whether Penwest and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Penwest shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 9, 2010, Penwest and Endo announced that they had entered into a merger agreement, under which Endo will commence an all-cash tender offer to acquire 100 percent of the outstanding Penwest common stock for $5.00 per share. The tender offer is expected to be completed in September, 2010 after which Endo will acquire any Penwest shares that are not purchased in the tender offer in a second-step merger at the same price per share paid in the tender offer. The transaction has been unanimously approved by the boards of directors of Penwest and Jennifer Good, Penwest’s President and Chief Executive Officer, has committed to tender her shares in the tender offer.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. Since leaving the bench and returning to trial work, Mr. Kendall has had tremendous success at the prosecution of patent, consumer and securities class action litigation either as lead, co-lead or liaison counsel. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
Tags: acquisition, deal, Endo Pharmaceuticals, investigation, litigation, Merger, NASDAQ: PPCO, Penwest Pharmaceuticals, PPCO, Securities, share, shareholder, stock, stockholder, unfair
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August 9th, 2010
Kendall Law Group, led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating Education Management Corporation (NASDAQ: EDMC) for shareholders. The national securities firm’s investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection to alleged fraudulent, deceptive, or otherwise questionable marketing practices. Education Management shareholders should contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On August 4, 2010, the Senate Health, Education, Labor, and Pensions Committee conducted a hearing on for-profit education firms, where Government Accountability Office representative, George Kutz, presented the findings of report GAO-10-948T, “For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices.” The report detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff, such as encouraging applicants to falsify their financial aid forms or pressuring applicants to sign enrollment contracts without speaking to financial advisors. Argosy University in Illinois, an Education Management school, was named by Kutz as one of the schools that provided “deceptive and questionable” information. Education Management’s stock dropped to a five year low shortly following news of the investigation and hearing.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are an Education Management shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.
Tags: EDMC, Education Management Corporation, investigation, Kendall Law Group, law firm, Lawsuit, litigation, NASDAQ: EDMC, Securities, share, shareholder, stock, stockholder
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