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Investigation On Behalf of Shareholders of Tii Network Technologies Announced |
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Written by BusinessWire
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Wednesday, 13 May 2009 |
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Bensalem, Pennsylvania - Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Tii Network Technologies Inc. (“Tii Network” or the “Company”) (Nasdaq:TIII) related to a proposal from Wilcom Inc. to acquire all of the outstanding shares of Tii Network in an all-cash deal valued at approximately $13.7 million.
Under the terms of the agreement, Tii Network shareholders will receive $1.00 for each share of Tii Network common stock they own. Given that the average price of the Company’s shares during 2008 was more than $1.36, and the shares traded as high as $1.25 as recently as September 2008, the transaction appears to be unfair. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the proposed acquisition.
If you own the common stock of Tii Network, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
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