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Shareholder Alert: Ademi LLP investigates whether TESSCO Technologies Incorporated has obtained a Fair Price in its transaction with Alliance
By AP News - Apr 12, 2023, 02:12 PM ET
Last Updated - Jun 22, 2023, 08:26 AM EDT
MILWAUKEE, April 12, 2023 /PRNewswire/ -- Ademi LLP is investigating Tessco (NASDAQ: TESS) for possible breaches of fiduciary duty and other violations of law in its transaction with Alliance.
Click here to learn how to join the action https://www.ademilaw.com/case/tessco-technologies-incorporated or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Tessco's financial outlook and prospects are excellent and yet Tessco's shareholders are expected to receive only $9.00 in cash, resulting in Tessco's enterprise value of approximately $161.4 million. The transaction agreement unreasonably limits competing bids for Tessco by imposing a significant penalty if Tessco accepts a superior bid. Tessco insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Tessco's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Tessco.
If you own Tessco common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/tessco-technologies-incorporated.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi LLP
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