Free Consultation offered to current shareholders of ATS Corporation concerning the alleged breach of fiduciary duty claims in the Salient acquisition. Call (239) 221-8301 to speak with a securities attorney!
Boston, Mass. (PRWEB) March 16, 2012
The National Securities Law Firm Gilman Law LLP announces a lawsuit filed against ATS Corp. in United States District Court in Virginia (Case No.: 12-244). Gilman Law LLP is investigating possible breach of fiduciary duty claims concerning current shareholders of ATS Corporation (“ATSC”) and other violations of state law by the board of directors of ATS relating to the proposed sale of ATSC to Salient Federal Solutions, Inc. (“Salient”). This breach of fiduciary duty investigation seeks to determine whether the board breached their fiduciary duties by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction and whether the proposed transaction undervalues ATSC shares to the detriment of ATSC shareholders.
On February 21, 2012, ATSC and Salient announced they had entered into a definitive merger agreement, with the transaction to be financed from Salient’s equity capital commitments and debt financing. The cash tender offer is valued at about $77 million. Under the terms of the proposed transaction, ATSC shareholders will receive $3.20 in cash for each share they own.
If you are a current shareholder of ATSC and would like to learn more about the breach of fiduciary duty investigation by the National Securities Law Firm Gilman Law LLP, you may contact our office for a free consultation by calling (239) 221-8301 or by visiting the ATS Corporation Breach of Fiduciary Duty Investigation Article on the National Securities Law Firm Gilman Law LLP Website.
About the National Securities Law Firm Gilman Law LLP
The leading national securities law attorneys at Gilman Law have over 32 years of experience litigating securities and other class action cases. Our firm has been involved in all major aspects of securities litigation, including cases involving stock manipulation, securities fraud, investment fraud, and shareholder rights violations, as well as securities class action suits on behalf of both individual and institutional investors.