Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
whether members of the Board of Directors of Tellabs (Nasdaq: TLAB)
breached their fiduciary duties in connection with the Company’s
proposed acquisition by Marlin Equity.
On October 21, 2013 Tellabs announced that it had entered into a
definitive merger agreement to be acquired by Marlin. Under the terms of
the agreement, holders of Tellabs common stock will receive $2.45 per
share, or a total of $891 million. The acquisition will be in the form
of a tender offer, which is scheduled to be completed in the fourth
quarter of this year.
The investigation will determine whether Tellabs’ directors breached
their fiduciary duties to stockholders by failing to satisfactorily shop
the Company before entering into this agreement. Scott Holleman,
attorney for Johnson & Weaver, stated that, “Marlin’s offer appears to
be inadequate and not in the best interest of the shareholders.”
Holleman continued, “Based on the cost-cutting measures the Company
recently undertook and the recent improvement in revenue and profit
margins, Marlin’s offer appears to grossly undervalue Tellabs and its
future prospects.”
If you are a shareholder of Tellabs and believe 1) the proposed
buyout price is too low or 2) the deal favors the officers and directors
and not the shareholders or 3) you’re interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights
law firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Copyright Business Wire 2013