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The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Herley Indus

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  Published in Science and Technology on Wednesday, February 9th 2011 at 11:25 GMT by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Herley Industries, Inc. (Nasdaq: HRLY) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS). Under the terms of the proposed transaction, Kratos will acquire all outstanding shares of Herley common stock in a tender offer for $19.00 cash per share for a total transaction value of approximately $270 million.

The investigation concerns whether the Herley Board of Directors breached their fiduciary duties to Herley stockholders by failing to adequately shop the Company before entering into this transaction and whether Kratos is underpaying for Herley shares.

If you own common stock in Herley and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/herley-industries.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.