Faruqi & Faruqi, LLP Announces the Investigation of API Technologies Corp. (ATNY) Over the Proposed Sale of the Company to J. F. Lehman & Company
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of API Technologies Corp. (“API” or the “Company”) (NASDAQ:ATNY) for potential breaches of fiduciary duties in connection with the sale of the Company to J. F. Lehman & Company for approximately $110.9 million.
The Company’s stockholders will only receive $2 for each share of Company common stock they own. However, this consideration is below both at least one analyst’s price target of $3.75 per share and the 52-week high of $2.65 per share.
The investigation focuses on whether API’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of API’s shareholders.
If you own common stock in API and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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