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SRS Labs, Inc. (SRSL)



Faruqi & Faruqi, LLP Announces Investigation of SRS Labs, Inc. (SRSL)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of SRS Labs, Inc. (“SRS Labs” or the “Company”) (NASDAQ: SRSL), a leader in audio processing and enhancement technologies, for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to DTS, Inc. (“DTS”) (NASDAQ: DTSI), a leader in high-definition audio, in a cash-and-stock transaction valued at about $148 million in aggregate equity value, including acquired net cash of approximately $38 million as of December 31, 2011.  Under the terms of the proposed transaction, SRS Labs shareholders may elect to receive either $9.50 per share in cash or a fixed ratio of 0.31127 shares of DTS common stock for every share of SRS Labs common stock they own, representing approximately $9.26 based on Monday’s close, while according to Yahoo! Finance, at least one financial analyst has set a price target of $10.00 for SRS Labs.

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

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