NEW YORK, March 11, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors of China Security & Surveillance Technology, Inc. ("CSR" or the "Company") (NYSE:CSR) concerning a proposal from its Chairman and Chief Executive Officer, Mr. Guoshen Tu ("Mr. Tu"), to acquire all outstanding shares of the Company's common stock not currently owned by Mr. Tu in a private transaction valued at $6.50 per share in cash. Mr. Tu beneficially owns approximately 20.9% of CSR common stock.
The investigation concerns, among other things, whether the consideration to be paid to CSR shareholders is unfair, inadequate, and significantly below the fair or inherent value of the Company. Indeed, at least one Wall Street analyst has set a target price at $8.60 per share.
CSR shareholders seeking more information about this acquisition are advised to contact Gustavo F. Bruckner, Esq. at gfbruckner@pomlaw.com or 888-476-6529, ext. 302 or Rachelle R. Boyle at rrboyle@pomlaw.com or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Rachelle R. Boyle Pomerantz Haudek Grossman & Gross LLP 888-476-6529 (ext. 237) rrboyle@pomlaw.com