AuthenTec Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate Sale of AuthenTec, Inc. to Apple
July 27 2012 - 12:14PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of AuthenTec, Inc. (“AuthenTec” or
“AUTH”) (Nasdaq: AUTH) to Apple for shareholders. Under the
proposed transaction, AuthenTec shareholders will only receive
$8.00 in cash for each share of AuthenTec/AUTH stock owned.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com. There is no cost or fee to you.
The transaction is valued at approximately $356 million.
The investigation centers on whether AuthenTec shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues AuthenTec stock, and whether
AuthenTec’s board attempted to obtain the highest share price for
all shareholders prior to agreeing to the deal. “Due to the recent
growth of the company and other factors, we believe that the
transaction may undervalue AuthenTec’s stock. Our lawsuit will seek
to obtain the highest share price for all shareholders,” said
shareholder rights attorney Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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