WEISSLAW LLP: MRV Communications, Inc. Acquisition May Not Be in the Best Interests of MRVC Shareholders
MRV COMMUNICATIONS (MRVC)
Last mrv communications earnings: 5/3 04:07 pm
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US:NASDAQ Investor Relations:
prnewswire.com/news-releases/mrv-communications-inc-announces-agreement-to-be-acquired-by-adva-optical-networking-300482934.html
Company Research
Source: PR Newswire
NEW YORK, July 6, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of MRV Communications, Inc. ("MRVC" or the "Company") (NASDAQ: MRVC) in connection with the proposed acquisition of the Company by ADVA Optical Networking. Under the terms of the acquisition agreement, the Company's shareholders will receive $10.00 for each MRVC share they own.WeissLaw is investigating whether MRVC's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $13.50, or $3.50 above the offer price. Additionally, the Company recently announced positive financial results, reporting a second consecutive quarter of double-digit year-over-year growth. MRV announced a 12% increase in revenue, and a 17% increase in packet and optical revenue in the first quarter of fiscal year 2017. Given these facts, WeissLaw is investigating whether MRVC's B
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