The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Tollgrade ...
February 24 2011 - 3:50PM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Tollgrade Communications (“Tollgrade” or the
“Company”) (Nasdaq: TLGD) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to an affiliate of Golden Gate Capital. Under the terms
of the proposed transaction, Tollgrade shareholders will receive
$10.10 per share in cash for a total transaction value of
approximately $137 million.
The investigation concerns whether the Tollgrade Board of
Directors breached their fiduciary duties to Tollgrade stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Golden Gate Capital is underpaying for
Tollgrade shares. Tollgrade stock traded as high as $10.20 per
share as recently as February 16, 2011.
If you own common stock in Tollgrade and wish to obtain
additional information, please contact Abe Shainberg, Esq. either
via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit
http://www.ashainberglaw.com/tollgrade-communications.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
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