Posts Tagged ‘Shareholder Investigation’

Kendall Law Group Announces Shareholder Investigation into MPS Group, Inc.

Friday, October 23rd, 2009

(DALLAS) Kendall Law Group, led by a former federal judge and former US Attorney, announces a shareholder investigation into the Board of Directors of MPS Group, Inc. (NYSE: MPS) in connection with the proposed acquisition by Adecco Group.

On October 20, 2009, Adecco announced its plans to purchase MPS Group, Inc., a company that provides staffing, consulting, and business solutions, for $1.17 billion. According to the agreement, shareholders will receive $13.80 in cash per MPS common stock owned. The transaction is expected to be complete in the first quarter of 2010 and includes a no-solicitation provision and $45 million termination fee.

Kendall Law Group’s investigation concerns whether the consideration to be paid to shareholders is below the fair or inherent value of the Company and whether the directors and may have breached their fiduciary duties by not acting in the shareholders’ best interests in connection with the sale process.

Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. For information about your rights as a MPS shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.

Kendall Law Group Announces Shareholder Investigation into Hansen Medical (NASDAQ: HNSN)

Friday, October 23rd, 2009

(DALLAS) Kendall Law Group, led by a former federal judge and former US Attorney, announces a shareholder investigation on behalf of Hansen Medical (NASDAQ: HNSN) in connection with publicly filed financial statements for 2008 and the first two quarters of 2009.

The firm’s investigation concerns Hansen’s announcement on October 19, 2009 that it plans to restate certain financial statements “correcting errors regarding the timing of revenue recognition on the sale of some of its Sensei Robotic Catheter Systems.” The Company states that the errors “arose from potential irregularities occurring outside of the accounting department, regarding the timing of revenue recognition.” The related statements include the year ended December 31, 2008 and for the quarters ending March 31, 2008, June 30, 2008, September 30, 2008, March 31, 2009 and June 30, 2009.

On this news, Hansen Medical shares dropped almost 10%, closing at $3.12 on October 19, 2009 with a heavy trading volume of 1.5 million shares.

Kendall Law Group has nationwide experience representing investors in securities class actions. For information about your rights as a Hansen Medical shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.

Kendall Law Group Announces Shareholder Investigation into Switch and Data Facilities Co., Inc. (NASDAQ: SDXC)

Friday, October 23rd, 2009

(DALLAS) Kendall Law Group, led by a former federal judge and former US Attorney, announces a shareholder investigation into the Board of Directors of Switch and Data Facilities Co., Inc. (NASDAQ: SDXC) in connection with the proposed acquisition by Equinix.

On October 21, 2009, Switch and Data announced that it had an agreement to sell the company to Equinix for approximately $689 million in cash and stock. According to the agreement, shareholders will receive either 0.19409 shares in Equinix stock or $19.06 in cash per SDXC stock owned. Overall consideration to be paid by Equinix is being set at 80% stock and 20% cash. The merger consideration will be pro-rated in the event that investors holding more than 80% of Switch & Data’s stock elect to receive Equinix stock or holders of more than 20% elect to receive cash. Certain officers and directors of Switch and Data have agreed to vote shares representing 35% of outstanding stock in favor of the transaction.

Kendall Law Group’s investigation concerns whether the consideration to be paid to shareholders below the fair or inherent value of the Company and whether the directors and may have breached their fiduciary duties by not acting in the shareholders’ best interests in connection with the sale process.

Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. For information about your rights as a SDXC shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.

Kendall Law Group Announces Shareholder Investigation into iPCS, Inc.

Monday, October 19th, 2009

(DALLAS) Kendall Law Group, led by a former federal judge and former US Attorney, announces a shareholder investigation into the Board of Directors of iPCS, Inc. (NASDAQ: IPCS) for possible breaches of fiduciary duty in connection with the proposed acquisition by Sprint Nextel Corp.

Sprint announced that it planned to buy iPCS in a transaction valued at $831 million, including the assumption of $405 million of net debt. iPCS offers personal communications services, network products and services under the Sprint brand name through PCS retail stores, co-branded dealers, and third party distributers. According to the agreement, shareholders will receive $24 per iPCS share owned. iPCS stock closed at $17.88 per share on Friday, October 16, 2009.

Kendall Law Group’s investigation concerns whether the consideration to be paid to shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of the Company and whether the directors and special committee members may have breached their fiduciary duties by not acting in the shareholders’ best interests in connection with the sale process.

Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. For information about your rights as an iPCS shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.

Kendall Law Group Announces Shareholder Investigation into Genesis Lease Limited

Thursday, October 15th, 2009

Kendall Law Group, led by a former federal judge and former US Attorney, announced an investigation on behalf of Genesis Lease Limited shareholders (NYSE: GLS) for potential breaches of fiduciary duty in connection with the proposed merger with AerCap Holdings.

According to the agreement, Genesis shareholders will receive 1 share of AerCap stock for each Genesis stock owned. The closing price as of September 17, 2009 was $8.81, valuing the transaction at $302.6 million. The deal will give AerCap access to $200 million of unrestricted cash from Genesis over the next two years.

Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. For information about your rights as a Genesis shareholder, or to share information about this deal, contact attorney Hamilton Lindley at 877-744-3728, or by email at hlindley@kendalllawgroup.com.

Kendall Law Group Announces Shareholder Investigation into ICT Group Acquisition

Thursday, October 15th, 2009

Kendall Law Group, led by a former federal judge, announces an investigation behalf of ICT Group, Inc. shareholders (NASDAQ: ICTG) in connection with plans to sell the company to Sykes Enterprises Inc.

The firm’s investigation concerns whether the board of directors of ICT breached their fiduciary duties by approving this agreement, in which ICT shareholders will receive $15.38 per share owned, a 46 percent premium to ICT’s closing price on October 5, 2009. The transaction is expected to close around the end of 2009.

Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. For information about your rights as an ICT shareholder or to provide information about this transaction, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.

Kendall Law Group Announces Shareholder Investigation into Starent Networks, Corp.

Thursday, October 15th, 2009

Kendall Law Group, led by a former federal judge, announces a shareholder investigation into the board of directors of Starent Networks, Corp. (NASDAQ: STAR) in connection with thier agreement to sell the Company to Cisco Systems, Inc. in a transaction valued at $2.9 billion.

The firm is investigating whether the board of directors of Starent breached their fiduciary duties by approving the acquisition, which is expected to close during the first half of 2010. According to the agreement, shareholders will receive $35 in cash per Starent share owned, which is a 20.6% premium over closing price on Monday. The acquisition is expected to hurt earnings in 2010 and 2011 fiscal years, but add to profit in fiscal 2012. This announcement follows that of Cisco on October 1, 2009 indicating that it planned to buy Tandberg, a video conference equipment maker, for $3 billion.

Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. If you have information concerning this merger or want to learn more about your rights as a shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.

Kendall Law Group Announces Shareholder Investigation into Avocent Corporation

Friday, October 9th, 2009

Kendall Law Group, led by a former federal judge and former US Attorney, announces a shareholder investigation on behalf of Avocent Corporation (NASDAQ: AVCT) in connection with an agreement to sell the Company to Emerson Electric Co.

The firm is investigating whether the board of directors Avocent breached their fiduciary duty and other violations of state law related to the approval of the acquisition, which is expected to close around January 1, 2010. According to the agreement, Emerson will pay $25 per Avocent share, a 22% premium to the closing price of $20.52 on Monday. After the announcement, Emerson shares were up 2 cents and Avocent jumped from $4.28 to $24.80. The transaction is expected to boost Emerson’s ability to deliver total infrastructure management solutions to its data center customers around the world.

Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. If you have information concerning this merger or want to learn more about your rights as a shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.

Kendall Law Group Launches Shareholder Investigation into Acquisition of Aspect Medical Systems, Inc. (NASDAQ: ASPM)

Monday, September 28th, 2009

Kendall Law Group, led by a former Federal Judge and former U.S. Attorney, launched a shareholder investigation into the proposed acquisition of Aspect Medical Systems, Inc. (NASDAQ: ASPM) by Covidien.

According to the agreement, Aspect shareholders will receive $12.00 in cash per share, valuing the transaction at $210 million, net of cash and short-term investments acquired. The transaction is subject to customary closing conditions, will take the form of an all cash tender offer followed by a second-step merger and is expected to be completed by the end of 2009.

Kendall Law Group’s investigation concerns whether the consideration to be paid to Aspect shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of the Company and whether the directors and special committee members may have breached their fiduciary duties by not acting in the shareholders’ best interests in connection with the sale process.

For information about your rights as an Aspect shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. The firm has significant experience representing investors in mergers and acquisitions from Kendall Law Group’s headquarters in Dallas, Texas.