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ATS Corporation (ATSC)



Faruqi & Faruqi, LLP Announces Investigation of ATS Corporation (ATSC)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of ATS Corporation (“ATS” or the “Company”) (NYSE AMEX: ATSC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Salient Federal Solutions, Inc., in an all-cash deal valued at about $77 million.  Under the terms of the proposed transaction, ATS stockholders will receive $3.20 in cash for each share of ATS common stock they own. As recently as February 2, 2012, ATS stock traded at $3.33 per share – higher than the deal price. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.

Whether ATS 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 ATS shares and by how much this proposed transaction undervalues the Company to the detriment of ATS shareholders are the key focus of this investigation.

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


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