Faruqi & Faruqi, LLP Announces the Investigation of Alliance Fiber Optic Products Inc. (AFOP) Over the Proposed Sale of the Company to Corning Inc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Alliance Fiber Optic Products Inc. (“Alliance” or the “Company”) (NASDAQ:AFOP) for potential breaches of fiduciary duties in connection with the sale of the Company to Corning Inc. for approximately $305 million in an all-cash transaction.
The Company’s stockholders will only receive $18.50 for each share of Company common stock they own. However, this consideration is below at least one analyst’s price target of $20.00 per share and Alliance’s 52-week high of $22.35 per share.
If you own common stock in Alliance 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 email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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Tel: (212) 983-9330
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