Bernstein Liebhard LLP Announces Investigation of Acquisition of Opnext, Inc. by Oclaro, Inc.
March 27, 2012
Bernstein Liebherd LLP is investigating whether the Board of Directors of Opnext, Inc. (“Opnext” or the “Company”) (NASDAQ: OPXI) breached its fiduciary duty to its shareholders in agreeing to sell Opnext to Oclaro, Inc.
Under the terms of the agreement, Opnext shareholders will receive a fixed ratio of 0.42 shares of Oclaro common stock for each share they own. The investigation is focused on the potential unfairness of the price to Opnext shareholders and the process by which the Opnext Board of Directors considered and approved the transaction.
Bernstein Liehhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $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.