Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Monday, August 17, 2015
Faruqi & Faruqi Investigation: Planar Systems, Inc.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Planar Systems, Inc. (“Planar” or the “Company”) (Nasdaq:PLNR) for potential breaches of fiduciary duties in connection with the sale of the Company to Leyard Optoelectronic Co., Ltd. for approximately $157 million in cash.
The Company’s stockholders will only receive $6.58 for each share of Company common stock they own. However, the offer represents a inadequate premium since Planar stock traded at $8.68 per share as recently as December 29, 2014 and at least one Wall Street analyst price target for Planar stock is at $7.50 per share.