On December 20, 2010, LaserCard announced that it had entered into a definitive merger agreement to be acquired by ASSA ABLOY, Inc. for $6.25 per share. The complaint filed in the lawsuit, Miller v. DeVincenzi, et al., alleges that defendants violated the federal securities laws by omitting material information from LaserCard's December 22, 2010 Schedule 14D-9, and that LaserCard's directors violated their fiduciary duties by failing to obtain the best possible price for the Company.
Los Angeles, CA: A class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all shareholders of LaserCard Corporation ("LaserCard").
On December 20, 2010, LaserCard announced that it had entered into a definitive merger agreement to be acquired by ASSA ABLOY, Inc. for $6.25 per share. The complaint filed in the lawsuit, Miller v. DeVincenzi, et al., alleges that defendants violated the federal securities laws by omitting material information from LaserCard's December 22, 2010 Schedule 14D-9, and that LaserCard's directors violated their fiduciary duties by failing to obtain the best possible price for the Company.
On December 20, 2010, LaserCard announced that it had entered into a definitive merger agreement to be acquired by ASSA ABLOY, Inc. for $6.25 per share. The complaint filed in the lawsuit, Miller v. DeVincenzi, et al., alleges that defendants violated the federal securities laws by omitting material information from LaserCard's December 22, 2010 Schedule 14D-9, and that LaserCard's directors violated their fiduciary duties by failing to obtain the best possible price for the Company.
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