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Freitag, 04.04.2014 17:45 von | Aufrufe: 82

Block & Leviton LLP Investigates Mercury Systems, Inc. for Possible Breaches of Fiduciary Duty in Connection with Its Potential Acquisition

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PR Newswire

BOSTON, April 4, 2014 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of Mercury Systems, Inc. ("Mercury" or the "Company") (NASDAQ:  MRCY) concerning the proposed acquisition of the Company, as reported by Sterne Agee analyst Peter Arment and Reuters reporters Nicola Leske and Mike Stone.  Under the discussed terms of the transaction, Mercury shareholders will be paid merger consideration in the low teens, reflecting a valuation of the Company of approximately $500 million.  A total deal value of $500 million would reflect a paltry premium of only 8.7% of the current trading price of the stock.

Mercury represents an extremely attractive opportunity, as either a merger target or for investors as a standalone corporation.  The Company had no debt on its 2013 year-end balance sheet, and holds approximately $1.34 cash on hand for each outstanding share of its stock, making it particularly well capitalized.  In less than two months, Mercury's share price has skyrocketed 36%, and shows no signs of stopping its explosive growth.  The Company provides data processing systems, software and services to companies including Boeing, Lockheed Martin Corp, Northrop Grumman Corp and Raytheon Co.  Mercury's President and CEO Mark Aslett, in delivering the Company's most recently reported quarterly results, stated that recent investments and developments by the Company's "should further strengthen Mercury's position to deliver significantly improved profitability, cash flow generation and shareholder value going forward."

Block & Leviton's investigation seeks to determine, among other things, whether Mercury's directors breached their fiduciary duties by failing to maximize shareholder value in the potential acquisition and the fairness by which the directors considered and approved the transaction.

If you are a Mercury shareholder and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, at
(617) 398-5600 or email him at Steven@blockesq.com.  

Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 70 years.  This notice may constitute attorney advertising.

Contact:
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
steven@blockesq.com
(617) 398-5600

SOURCE Block & Leviton LLP


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