Abraham, Fruchter & Twersky, LLP Announces Investigation of Tollgrade Communications, Inc.
February 22 2011 - 6:19PM
Business Wire
Abraham, Fruchter & Twersky, LLP has commenced an
investigation on the board of directors of Tollgrade
Communications, Inc. (“Tollgrade” or the “Company”) (NASDAQ:TLGD)
for possible breaches of fiduciary duty and other violations of
state and federal securities laws related to a proposed acquisition
of Tollgrade by an affiliate of Golden Gate Capital.
On February 22, 2011, Tollgrade announced that it had entered
into a definitive merger agreement to be acquired by an affiliate
of Golden Gate Capital in a transaction valued at approximately
$137 million. Under the terms of the transaction, Tollgrade’s
common stockholders will receive $10.10 per share in cash. Abraham,
Fruchter & Twersky, LLP is investigating whether the $10.10 per
share being offered is a fair price. The firm is also investigating
whether the proposed transaction is the product of a flawed process
designed to ensure the Company’s sale on terms favorable to Golden
Gate Capital and its affiliate, but detrimental to the public
shareholders.
If you own shares of Tollgrade and would like to discuss this
action, or if you have any questions concerning this notice or your
rights as a potential class member or lead plaintiff, you may
contact: Philip T. Taylor of Abraham, Fruchter & Twersky, LLP
toll free at (800) 440-8986, or via e-mail at info@aftlaw.com or
ptaylor@aftlaw.com.
Abraham, Fruchter & Twersky, LLP has extensive experience in
shareholder and securities class action cases, and the firm has
been ranked among the leading class action law firms in terms of
recoveries achieved by a survey of class action law firms conducted
by Institutional Shareholder Services.
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
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