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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ulticom (MM) | NASDAQ:ULCM | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.06 | 0 | 01:00:00 |
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors ("Board") of Ulticom, Inc. ("Ulticom" or the "Company") (NASDAQ:ULCM) in connection with their efforts to sell Ulticom to an affiliate of Platinum Equity, LLC. If the transaction is completed, Ulticom shareholders will receive $2.33 per share in cash, after payment of a special dividend in the amount of $5.74 a share in cash. Shares held by Ulticom's controlling shareholder, Comverse Technology, Inc. ("Comverse") will be purchased by Platinum Equity, LLC's affiliate pursuant to a separate share purchase agreement immediately prior to the closing of the merger. Under the terms of the share purchase agreement, Comverse will receive up to $2.33 per share, with a portion of such amount to be deferred and at risk based on the Company's financial performance post-closing. The transaction is expected to close by the end of the Company's fourth fiscal quarter of 2010.
Robbins Umeda LLP's investigation concerns whether Ulticom's Board undertook a fair process to obtain fair consideration for all shareholders of Ulticom. Specifically, our investigation concerns whether the Company's Board breached their fiduciary duties to Ulticom shareholders by failing to adequately shop the Company before entering into the transaction with affiliates of Platinum Equity, LLC.
If you are a shareholder of Ulticom, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a securities litigation firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.
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