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Tekelec (TKLC)

NASDAQ: TKL

Summary

Faruqi & Faruqi, LLP Announces Investigation of Tekelec (TKLC)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Tekelec (the “Company”) (NASDAQ: TKLC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to a consortium led by Siris Capital Group and including affiliates of The ComVest Group, funds and accounts managed by GSO Capital Partners Sankaty Advisors LLC, ZelnickMedia and other Siris limited partners and affiliates, in an all-cash deal valued at about $780 million. Under the terms of the proposed transaction, Tekelec stockholders will receive $11.00 in cash for each share of Tekelec common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $16.00 for Tekelec. 

Whether Tekelec’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Tekelec’s shares and by how much this proposed transaction undervalues the Company to the detriment of Tekelec’s shareholders are the key focus of this investigation.

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Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

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