Shareholder Alert: The Briscoe Law Firm Investigates Keithley Instruments’ Board Concerning the Acquisition of Keithley Ins...
October 01 2010 - 1:12PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Keithley Instruments, Inc. (“Keithley Instruments” or “KEI”)
(NYSE: KEI) related to the proposed acquisition of Keithley
Instruments by Danaher Corporation.
The definitive merger agreement, which was announced on
September 29, 2010, involves a transaction valued at approximately
$300 million, net of cash assumed, under which Keithley Instruments
shareholders will receive only $21.60 in cash for each share of
Keithley Instruments/KEI common stock and Class B common stock
held. The proposed acquisition price represents a premium over
Keithley Instruments’ closing price on September 28, 2010. However,
due to Keithley Instruments’ strong 2010 third quarter earnings,
which represent an increase of 31% over the prior year’s third
quarter earnings results, the proposed price appears to be unfair
to Keithley Instruments shareholders.
The investigation relates to possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Keithley Instruments for approving this transaction, whether the
consideration to be received by Keithley Instruments shareholders
is fair, and whether Keithley Instruments’ Board of Directors acted
in the shareholders’ best interests.
If you currently own shares of Keithley Instruments/KEI and
would like additional information regarding this investigation, or
if you have information regarding the allegations involving this
transaction, please contact Patrick Powers at Powers Taylor, LLP,
toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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