The Law Office of Brodsky and Smith, LLC have announced an investigation to be done against the board of directors of Tellabs, Inc. (NASDAQ:TLAB). Tellabs Inc is a telecom equipment manufacturer organization. The Law Office of Brodsky and Smith, LLC have announced that an investigation against the board of directors of Tellabs Inc is to be held relating to the proposed acquisition by the Marlin Equity Partners.
Reasons behind investigation
According to the terms mentioned under the transactions, the share holders were prescribed to be receiving a fixed amount out of the stock of Tellabs. The investigation concerns possible breaches of fiduciary duties and other kinds of violations of state law by the board of directors of Tellabs Inc for not performing and thinking about the concerns of the share holders of the company. If the transaction takes place, the company along with the share holders would experience a huge loss which might turn out to be non beneficial for them.
Tellabs going private
According to a source, on 21st October, Tellabs Inc merged with a private equity firm, Marlin Equity Partners and would be going private. If this deal is to be completed, Marlin Equity partners will have to acquire all the outstanding shares of Tellabs at a very low rate. This would prove to be a problem for the share holders of Tellabs and hence the Law Office of Brodsky and Smith, LLC has announced an investigation against the board of directors of Tellabs Inc.
What to do if you are a share holder of Tellabs Inc
If you are holding shares of Tellabs Inc and wish to discuss the ramifications of the proposed transaction then you can contact the law offices of Brodsky and Smith, LLC.