SAN DIEGO, April 8, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Alliance Fiber Optic Products,
Inc. (NASDAQ: AFOP) breached their fiduciary duties in connection
with the proposed sale of the Company to Corning Incorporated
(NYSE: GLW).
Additional Information:
Alliance Fiber, designs, manufactures and markets various fiber
optic components and integrated modules for communications
equipment manufacturers and service providers.
On April 7, 2016, Alliance Fiber
announced it had signed a definitive merger agreement with Corning.
Under the terms of the agreement, Alliance Fiber stockholders will
receive $18.50 a share in cash.
The investigation concerns whether the Alliance Fiber board
failed to satisfy their duties to the Company shareholders,
including whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Alliance Fiber shares of common stock. Nationally recognized
Johnson & Weaver is investigating whether the proposed deal
price represents adequate consideration, especially given one Wall
Street analyst has a $20.00 price
target on the stock. Additionally, the Company has no long-term
debt and over $23 million in
cash. Alliance Fiber's 52 week high was $22.35.
If you are a shareholder of Alliance Fiber and believe the
proposed buyout price is too low or you're interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
Logo - http://photos.prnewswire.com/prnh/20160211/332409LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/alliance-fiber-afop-alert-johnson--weaver-llp-launches-an-investigation-into-the-fairness-of-price-and-process-in-proposed-sale-of-alliance-fiber-optic-products-inc-are-shareholders-getting-a-fair-price-300248416.html
SOURCE Johnson & Weaver, LLP