NEW YORK, Feb. 8, 2011 (GLOBE NEWSWIRE) -- Harwood Feffer LLP ( www.hfesq.com ) is investigating potential claims against the board of directors of Herley Industries, Inc. ("Herley" or the "Company") (Nasdaq:HRLY) concerning possible breaches of fiduciary duty and other violations of law related to the proposed acquisition by Kratos Defense & Security Solutions, Inc. in a transaction valued at approximately $270 million.
Under the terms of the agreement, Herley shareholders will receive $19.00 in cash for each share they own of the Company's common stock. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the board of directors undertook a fair process to obtain fair consideration for all shareholders of Herley.
If you own shares of Herley and would like to learn more about these claims, or if you wish to discuss this matter and have any questions or information concerning this announcement, please contact Robert I. Harwood, Esq. at rharwood@hfesq.com or Daniella Quitt, Esq. at dquitt@hfesq.com. You may also call Mr. Harwood or Ms. Quitt at (877) 935-7400. For more information about class actions, please visit our website: www.hfesq.com.
Harwood Feffer LLP is a national shareholder litigation firm. Harwood Feffer LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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CONTACT: Harwood Feffer LLP Robert I. Harwood, Esq. Daniella Quitt, Esq. (877) 935-7400 rharwood@hfesq.com dquitt@hfesq.com