WILMINGTON, Del., June 4, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed on behalf of stockholders of Aeroflex Holding Corp. (NYSE:ARX) ("Aeroflex" or the "Company") seeking to challenge the Company's recently announced buyout.
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NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, on May 20, 2014, Aeroflex and Cobham plc ("Cobham") announced the signing of a definitive merger agreement pursuant to which Cobham will acquire Aeroflex in a merger valued at roughly $1.46 billion. As a result of the buyout, Aeroflex shareholders are only anticipated to receive $10.50 per share in cash in exchange for each common share of Aeroflex.
The complaint, which was filed on June 3, 2014, notes that Goldman Sachs, who advised Aeroflex on the merger, is a significant shareholder of Aeroflex. Goldman Sachs, along with two private equity firms, Veritas Capital Fund III, L.P. and Golden Gate Private Equity, Inc., who collectively own roughly 64.8% of Aeroflex, have already agreed to vote in favor of the merger. The complaint further alleges that the premium on the consideration that Aeroflex shareholders are receiving is insufficient.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
CONTACT: Craig J. Springer, Esq. Andrews & Springer LLC 3801 Kennett Pike Building C, Suite 305 Wilmington, DE 19807 Toll Free: 1 (800) 423-6013 Fax: (302) 397-2681 firstname.lastname@example.orgSource:Andrews & Springer LLC