The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of Ulticom, Inc. by an Affiliate of Platinu...
October 12 2010 - 10:09PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors ("Board") of Ulticom, Inc.
("Ulticom" or the "Company") (NASDAQ:ULCM) in connection with their
efforts to sell Ulticom to an affiliate of Platinum Equity, LLC. If
the transaction is completed, Ulticom shareholders will receive
$2.33 per share in cash, after payment of a special dividend in the
amount of $5.74 a share in cash. Shares held by Ulticom's
controlling shareholder, Comverse Technology, Inc. ("Comverse")
will be purchased by Platinum Equity, LLC's affiliate pursuant to a
separate share purchase agreement immediately prior to the closing
of the merger. Under the terms of the share purchase agreement,
Comverse will receive up to $2.33 per share, with a portion of such
amount to be deferred and at risk based on the Company's financial
performance post-closing. The transaction is expected to close by
the end of the Company's fourth fiscal quarter of 2010.
Robbins Umeda LLP's investigation concerns whether Ulticom's
Board undertook a fair process to obtain fair consideration for all
shareholders of Ulticom. Specifically, our investigation concerns
whether the Company's Board breached their fiduciary duties to
Ulticom shareholders by failing to adequately shop the Company
before entering into the transaction with affiliates of Platinum
Equity, LLC.
If you are a shareholder of Ulticom, plan to continue to hold
your shares, and would like more information about your rights as a
shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a securities litigation firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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