mail@shareholdersfoundation.com
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Jun 04, 2009 -
SAN DIEGO, CA (Shareholders Foundation) - An investigation on behalf of current investors of Axsys Technologies, Inc. (Public, NASDAQ:AXYS)
over potential breaches of fiduciary duty and other violations of state law by the Board of Directors of the Axsys was announced.
If you are a current investor in Axsys Technologies, Inc. (NASDAQ:AXYS)
and purchased the shares before June 03, 2009, you have certain options and you should contact the Shareholders Foundation, Inc. immediately at:
Email: mail@shareholdersfoundation.com
Or call us at: +1 (858) 779 - 1554
The investigation by a law firm focuses on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of Axsys Technologies, Inc.(Nasdaq:
AXYS) arising out of their attempt to sell Axsys to General Dynamics Corp. Axsys Technologies announced that General Dynamics Advanced Information Systems, a business unit of General Dynamics (NYSE: GD), has entered into a definitive agreement to acquire Axsys Technologies, Inc., (NASDAQ: AXYS) for $54 per share of Axsys Technologies' outstanding common stock. The cost of the transaction would be $643 million. The proposed acquisition has been approved by the boards of directors of Axsys Technologies and General Dynamics. According to the investigation the price is unfair given that Axsys shares NASDAQ:AXYS traded over $72 per share as recently as December 2008 and analysts currently placed a median price target of $64 per share with a high price target of $80 per share. Axsys Technologies, Inc, located in Rocky Hill, CT, is a designer and manufacturer of precision optical solutions for defense, aerospace, homeland security and commercial applications. The Company operates in two business segments: the Surveillance Systems Group and the Imaging Systems Group. The Surveillance Systems Group designs, manufactures and sells highly precise camera systems for deployment on ground, marine and aerial vehicles. Axsys Technologies, Inc. (NASDAQ:AXYS)
reported $171.62million in total revenue with a net income of $16.78million in 2007 and $245.48million in total revenue with a net income of $25.87million in 2008. Shares of Axsys Technologies, Inc. (NASDAQ:AXYS)
were down form a 52weekHigh of $79.69 per share.
If you are a current investor in Axsys Technologies, Inc. (NASDAQ:AXYS)
and purchased the shares before June 03, 2009, you have certain options and you should contact the Shareholders Foundation, Inc. immediately at:
Email: mail@shareholdersfoundation.com
Or call us at: +1 (858) 779 - 1554
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-
779-1554
Fax:+1-(858)-
605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
