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Spectrum Control, Inc. Shareholder Investigation by Briscoe Law Firm Concerning Sale of the Company to API Technologies

^{Published on 2011-03-30 07:55:30 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of [ Powers Taylor, LLP ] are investigating potential legal claims against the Board of Directors of Spectrum Control, Inc. (aSpectrum Controla or aSPECa) (NASDAQ: SPEC) related to the proposed buyout of Spectrum Control by API Technologies Corporation. The definitive merger agreement involves an all-cash transaction valued at approximately $270 million. Under the proposed buyout, Spectrum Control shareholders will receive $20.00 in cash for each share of Spectrum Control/SPEC common stock they hold. Upon completion of the transaction, Spectrum Control will become a wholly-owned subsidiary of API.

The investigation relates to the fairness of the proposed transaction to Spectrum Control shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Spectrum Control for approving this transaction, and whether Spectrum Controla™s Board of Directors acted in the shareholdersa™ best interests. In addition, the firms seek to determine through their investigation whether Spectrum Controla™s Board of Directors obtained the best value for shareholders, adequately considered all viable alternatives, and properly shopped the company before entering into the acquisition agreement with API.

If you currently own shares of Spectrum Control/SPEC and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.