Science & Technology
Science and Technology
Science and Technology 
Wed, February 9, 2011
Tue, February 8, 2011
Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Herley Industries, Inc., in Connection with
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Herley Industries, Inc. (aHerleya or the aCompanya) (NASDAQ:HRLY) related to the Companya™s agreement to be acquired by Kratos Defense & Security Solutions, Inc. (aKratosa). The proposed transaction is valued at approximately $270 million.
Under the terms of the definitive agreement entered into by the parties, Herley shareholders will receive $19.00 per share in cash for each share they own of the Companya™s common stock. The transaction is structured as an all-cash tender offer followed by a second-step merger a" Kratos will commence a tender offer, no later than February 25, 2011, for all issued and outstanding shares of Herley common stock. The acquisition is expected to close during the first quarter of 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Herleya™s board of directors.
If you are a shareholder of Herley, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].