ADVANCED PHOTONIX, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout
February 18 2015 - 2:19PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of Advanced
Photonix, Inc. (NYSE MKT: API)?
- Did you purchase any of your shares
prior to February 2, 2015?
- Do you think the proposed buyout
value is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of Advanced
Photonix, Inc. (“API” or the “Company”) (NYSE MKT: API) regarding
possible breaches of fiduciary duties and other violations of law
related to the Company’s entry into an agreement to be acquired by
Luna Innovations Incorporated (“Luna”) (NASDAQ CM: LUNA).
Click here to learn more:
http://www.rigrodskylong.com/investigations/advanced-photonix-inc-api.
Under the terms of the agreement, shareholders of API will
receive 0.31782 of a Luna common share for each share of API common
stock. Based on Luna’s closing stock price on January 30, 2015, API
shareholders would have received consideration valued at
approximately $0.53 per share.
The investigation concerns whether API’s board of directors
failed to adequately shop the Company and obtain the best possible
value for API’s shareholders before entering into an agreement with
Luna. According to Yahoo! Finance, at least one analyst has issued
a price target for API’s stock at $0.65 per share.
If you own the common stock of API and purchased your shares
before February 2, 2015, 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 or Gina M. Serra at Rigrodsky & Long, P.A., 2
Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at
(888) 969-4242; by e-mail to info@rl-legal.com, or at:
http://www.rigrodskylong.com/investigations/advanced-photonix-inc-api.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Rigrodsky & Long, P.A.Seth D. RigrodskyGina M.
Serra888-969-4242302-295-5310Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com