NEW YORK, Sept. 22, 2007 (PRIME NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating possible securities law or other violations regarding the true reasons for the cancellation of the acquisition of Harman International Industries, Inc. (NYSE:HAR) by Kohlberg Kravis Roberts & Co. L.P. and GS Capital Partners VI Fund, L.P. (the "Investment Funds").
The Investment Funds announced yesterday that they no longer intend to complete the previously announced acquisition of Harman, claiming that there has been a material adverse change in Harman's business, and that Harman breached the merger agreement. Harman has denied that a material adverse change occurred or that it breached the merger agreement.
As a result of this development, Harman shares have declined over $27 per share on huge volume.
If you hold Harman shares, and also if you purchased shares since April 26, 2007, and you wish to be kept informed of our investigation, have any questions concerning this notice or your rights with respect to this matter, please contact Roy L. Jacobs. Mr. Jacobs will personally speak with you at no cost or obligation.