The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that it has commenced an investigation into
possible breaches of fiduciary duty and other violations of state law by
the Board of Directors of Alliance Fiber Optic Products, Inc. (Nasdaq:
AFOP) (“Alliance” or the “Company”) relating to the proposed buyout of
the Company by Corning Incorporated.
Under the terms of the agreement, Alliance stockholders will receive
$18.50 a share in cash for each share of Alliance common stock held. The
firm’s investigation seeks to determine, among other things, whether the
Company’s Board of Directors failed to satisfy their duties to
shareholders, including whether the Board adequately pursued
alternatives to the acquisition and whether the Board obtained the best
price possible for the Company’s shares of common stock, especially
given that according to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for Alliance Fiber stock at $20.00 per
share.
If you currently own the Company’s common stock and believe that the
proposed buyout price is too low, or you would like to learn more about
the investigation being conducted by Brower Piven, please visit our
website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
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