The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of CPI International Inc. (“CPII” or the “company”) (NASDAQ: CPII) related to the proposed acquisition of CPII by the private equity group Veritas Capital.
The definitive acquisition agreement, which was announced on November 26, 2010, involves a transaction valued at approximately $525 million under which CPII shareholders will receive a cash payment of $19.50 for each share of CPII common stock they hold. Although the acquisition price represents an approximate 26% premium over CPII’s closing price the day before the merger announcement, based on CPII’s historical share prices and other factors, the proposed going private transaction may not adequately value CPII shares. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of CPII for approving this transaction and whether CPII’s Board of Directors acted in the shareholders’ best interests and properly shopped the deal.
If you currently own shares of CPII and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The Briscoe Law Firm 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.