NEW YORK, June 23, 2014 (GLOBE NEWSWIRE) -- The proposed acquisition of Measurement Specialties Inc. ("MEAS" or the "Company") by TE Connectivity, Ltd. ("TE Connectivity") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. On June 18, 2014, the companies jointly announced they had reached a definitive agreement for TE Connectivity to acquire MEAS for $1.7 billion. Under the terms of the proposed transaction, shareholders of MEAS would receive $86 cash for each share of the Company's common stock they own; representing a mere 10% premium over the Company's June 18 closing price.
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MEAS for agreeing to sell the Company to TE Connectivity. The examination is focusing specifically on whether the Company's Board acted to maximize shareholder value prior to entering into the agreement with TE Connectivity. Notably, on June 3, 2014, the Company reported a $65.7 million increase in consolidated net sales, reflecting an 18.9% increase over the previous year.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell Measurement Specialties and whether the shareholders will obtain their fair proportionate share of the Company's continued success and future growth prospects. If you own MEAS shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
The firm is also in the process of investigations on behalf of shareholders of Integrys Energy Group Inc., TW Telecom Inc., Access Midstream Partners, L.P., Fusion-io, Inc. and OpenTable, Inc.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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