The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of SRA Intern...
04 Aprile 2011 - 6:06PM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of SRA International, Inc. (NYSE: SRX) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to an affiliate of
Providence Equity Partners (“Providence”). Under the terms of the
proposed transaction, SRA shareholders will receive $31.25 in cash
per share for a total transaction value of approximately $1.88
billion.
The investigation concerns whether the SRA Board of Directors
breached their fiduciary duties to SRA stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Providence is underpaying for SRA shares. In
particular, Dr. Volgenau, the Company’s founder and chairman, who
currently owns 21% of the total outstanding shares and 71% of
voting rights of the company, has agreed to vote in favor of the
merger.
If you own common stock in SRA and wish to obtain additional
information, please contact Abe Shainberg, Esq. either via email at
as@ashainberglaw.com or by telephone at (212) 425-7286, or visit
http://www.ashainberglaw.com/sra-international-inc.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:Abe Shainberg, Esq.132 East 43rd Street, Suite 512New
York, NY 10017Tel: (212) 425-7286Fax: (866) 699.3880Email:
as@ashainberglaw.com
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