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LeCroy Corporation (LCRY)



Faruqi & Faruqi, LLP Announces Investigation of LeCroy Corporation (LCRY)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of LeCroy Corporation (“LeCroy” or the “Company”) (NASDAQ: LCRY) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Teledyne Technologies Incorporated (NYSE: TDY) in an all-cash deal valued at about $291 million, taking into account LeCroy’s stock options, stock appreciation rights and net debt as of March 31, 2012. Under the terms of the proposed transaction, LeCroy’s stockholders will receive $14.30 in cash for each share of LeCroy’s common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $16.00 for LeCroy.

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

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  • Company:
    LeCroy Corporation (LCRY)

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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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