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Levi & Korsinsky LLP Investigates Catapult Communications Corporation |
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Written by Globe Newswire
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Thursday, 14 May 2009 |
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New York, New York - The law firm of Levi & Korsinsky LLP ("L&K") has initiated an investigation into the circumstances surrounding the acquisition of Catapult Communications Corporation ("Catapult" or the "Company")(Nasdaq:CATT) by Ixia (Nasdaq:XXIA). L&K is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of Catapult arising out of their agreement to sell the Company to Ixia in a transaction valued at $9.25 per share, or $105 million.
The transaction appears to be unfair given that, among other things, the Company's book value alone equals approximately $8.35 per share and the Company generates revenues of approximately $39.58 million per year. Thus, the price agreed to by Catapult's Board appears to offer little, if any, price premium to Catapult's shareholders.
If you own common stock in Catapult and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/catt.html
CONTACT: Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
Juan E. Monteverde, Esq.
(212) 363-7500
Fax: (212) 363-7171
www.zlk.com
30 Broad Street - 15th Floor
New York, NY 10004 |
