SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims That the Merger May
Not Be in the Best Interest of Investors of Globecomm Systems Inc. - GCOM
NEW YORK, Aug. 26, 2013
NEW YORK, Aug. 26, 2013 /PRNewswire/ --Pomerantz Grossman Hufford Dahlstrom &
Gross LLP is investigating claims on behalf of investors of Globecomm Systems
Inc. ("Globecomm" or the "Company") (NASDAQ: GCOM) (ISIN: US37956X1037)
(CUSIP: 37956X103) concerning the proposed acquisition of Globecomm by
Wasserstein & Co. in a transaction valued at approximately $340 million.
The investigation concerns whether the Globecomm directors are breaching their
fiduciary duties by failing to adequately shop the Company and maximize
shareholder value. Under the terms of the agreement, Globecomm shareholders
will receive $14.15 per share in cash for each share of Globecomm common
stock. However, price to EBITDA and Revenue multiples are below the averages
of comparable transactions. Moreover, the Globecomm stock closed above the
offered price on August 23, 2013 and at least one analyst has set a target
price of $18.00 per share for Globecomm common stock.
Globecomm shareholders seeking more information about this acquisition are
advised to contact Robert Willoughby at firstname.lastname@example.org or
212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the
following companies: Hilltop Community Bancorp, Inc., Dole Food Company,
Inc., and Cooper Tire & Rubber Company.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego,
is acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 75 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 237
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
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