Science & Technology
Tue, March 27, 2012
LOS ANGELES--([ BUSINESS WIRE ])--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Opnext, Inc. (aOpnexta or the aCompanya) (NASDAQ: OPXT) related to the proposed acquisition of the Company by Oclaro, Inc. The transaction is valued at approximately $177 million or $1.96 per share.
This investigation concerns whether the Board of Directors of Opnext breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $0.82 on January 5, 2012 to $1.13 on March 19, 2012. Further, a book value of $2.01 per share was reported for the most recent quarter.
If you are a shareholder of Opnext, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to [ shareholders@glancylaw.com ].
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