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DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the sale of [ LeCroy Corporation ] (aLeCroya or aLCRYa) (NASDAQ: LCRY) to a wholly-owned subsidiary of Teledyne Technologies, Inc. for shareholders. Under the proposed transaction, LeCroy shareholders will receive only $14.30 in cash for each share of LeCroy stock owned, which is well below at least one analystas estimated target price of $16.00 per share

"Because of the lack of a significant premium to the shareholders, and other factors, we believe that the transaction may undervalue LeCroy stock. Our lawsuit will seek to obtain the highest share price for all shareholders."

If you are an affected investor, and you want to learn more about the lawsuit or join the action, 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, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The definitive merger agreement is valued at approximately $291 million, taking into account LeCroyas stock options, stock appreciate rights and net debt as of March 31, 2012.

The investigation centers on whether LeCroy shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues LeCroy stock, and whether LeCroyas board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Although the acquisition price represents a premium over the closing price of LeCroy shares the day prior to the buyout announcement, at least one analyst with Yahoo! Finance has estimated that the true inherent value of the stock is as high as $16.00 per share, well above the proposed price. According to shareholder rights attorney Willie Briscoe, aBecause of the lack of a significant premium to the shareholders, and other factors, we believe that the transaction may undervalue LeCroy stock. Our lawsuit will seek to obtain the highest share price for all shareholders.a

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

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