AuthenTec, Inc. Merger Litigation (Nasdaq: AUTH)
Law Office of Brodsky & Smith, LLC Announces Investigation of AuthenTec, Inc.
BALA CYNWYD, July 30, 2012/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of AuthenTec, Inc. (“AuthenTec” or the “Company”) (Nasdaq- AUTH-News) relating to the proposed acquisition by Apple, Inc. (“Apple”).
Under the terms of the transaction, AuthenTec shareholders would receive only $8.00 in cash for each share of AuthenTec stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of AuthenTec for not acting in the Company’s shareholders' best interests in connection with the sale process to Apple. The transaction may undervalue the Company as AuthenTec stock closed at $8.45 per share on July 30, 2012. In addition, it has been reported that other buyers may be interested in AuthenTec.
If you own shares of AuthenTec stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org or by calling toll free 877-LEGAL-90.
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