NEW YORK, June 20, 2014 (GLOBE NEWSWIRE) -- The fairness of the proposed acquisition of Measurement Specialties Inc. ("MEAS" or the "Company") by TE Connectivity Ltd. ("TEL") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. The examination is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of Measurement Specialties for agreeing to sell the Company to TE Connectivity. On June 18, 2014, the companies jointly announced they had reached a definitive agreement for TE Connectivity to acquire Measurement Specialties for $86 per common share, for a total equity value of approximately $1.7 billion.
WeissLaw LLP is investigating whether Measurement Specialties' Board acted to maximize shareholder value prior to entering into the agreement with TE Connectivity. Notably, on June 3, 2014, the Company reported net sales of $412.7 million, reflecting an 18.9% increase over net sales for the previous twelve months. In addition, Measurement Specialties expects net sales to continue to grow, projecting sales of $540 million for the next fiscal year.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell Measurement Specialties and whether shareholders will obtain their fair proportionate share of the Company's continued success and future growth prospects. If you own Measurement Specialties 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 TW Telecom, Inc., Idenix Pharmaceuticals, Inc., OpenTable, Inc. and Medtronic 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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