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KEI Keithley Instruments, Inc.

21.58
0.00 (0.00%)
12 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Keithley Instruments, Inc. NYSE:KEI NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 21.58 0.00 00:00:00

The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Keithl...

27/10/2010 7:24pm

Business Wire


Keithley (NYSE:KEI)
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The Law Office of Abe Shainberg is investigating the Board of Directors of Keithley Instruments, Inc. (NYSE: KEI) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Danaher Corporation (“Danaher”) (NYSE: DHR). Under the terms of the transaction, Keithley shareholders will receive $21.60 in cash for each share of Keithley common stock and Class B common stock they own for a total transaction value of approximately $300 million net of cash to be assumed. The acquisition has been unanimously approved by the Keithley Board of Directors.

A partnership affiliate with Joseph P. Keithley, Chairman, President and CEO of Keithley, has agreed to vote a number of Class B Common Shares representing 19.99% of the voting power of the Company in favor of the merger.

The investigation concerns whether the Keithley Board of Directors breached their fiduciary duties to Keithley stockholders by failing to adequately shop the Company before entering into this transaction and whether Danaher is underpaying for Keithley shares. In addition, the investigation concerns whether the definitive proxy statement filed by the company with the Securities and Exchange Commission on October 25, 2010 contains all material information that should be disclosed to shareholders.

If you own common stock in Keithley and wish to obtain additional information, please contact Abe Shainberg, Esq. directly, via email at as@ashainberglaw.com, by telephone at 212.425.7268, or visit http://www.ashainberglaw.com/keithley-kei.html.

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.

CONTACT:Abe Shainberg, Esq.132 East 43rd Street, Suite 512New York, NY 10017Tel: (212) 425-7286Fax: (866) 699.3880Email: as@ashainberglaw.com

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