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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Herley Industries, Inc. in Connection with the Sale of the Company to Kratos Defense & Security Solutions, Inc. – HRLY

Dépèche transmise le 7 février 2011 par Business Wire

The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Herley Industries, Inc. in Connection with the Sale of the Company to Kratos Defense & Security Solutions, Inc. – HRLY

NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Herley Industries, Inc. (“Herley” or the “Company”) (Nasdaq: HRLY) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Kratos Defense & Security Solutions, Inc. (“Kratos”) (Nasdaq: KTOS). Under the terms of the transaction, Kratos will acquire all outstanding shares of Herley common stock in a tender offer for $19.00 cash per share for a total transaction value of approximately $270 million.

Click here to learn more about the investigation: http://www.zlk.com/herley-industries-hrly.html, or call: 877-363-5972.

The investigation concerns whether the Herley Board of Directors breached their fiduciary duties to Herley stockholders by failing to adequately shop the Company before entering into this transaction and whether Kratos is underpaying for Herley shares, thus unlawfully harming Herley stockholders.

If you own common stock in Herley and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/herley-industries-hrly.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.