Bernstein Liebhard LLP Announces Investigation of Tekelec
November 7, 2011
Bernstein Liebhard LLP is investigating whether the Board of Directors of Tekelec (“Tekelec” or the “Company”) (NASDAQ: TKLC) breached its fiduciary duty to its shareholders in agreeing to sell Tekelec to a consortium led by Siris Capital Group, LLC (“Siris”) and including affiliates of The ComVest Group, funds and accounts managed by GSO Capital Partners LP, Sankaty Advisors LLC, ZelnickMedia and other Siris limited partners and affiliates.
Under the terms of the agreement, Tekelec shareholders will receive $11.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Tekelec shareholders and the process by which the Tekelec Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as a Tekelec shareholder and/or have information relating to the matter, please contact U. Seth Ottensoser at (877) 779-1414 or Ottensoser@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.