BALA CYNWYD, Pa., April 2, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Opnext, Inc. ("Opnext" or the "Company") (NASDAQ- OPXT) relating to the proposed acquisition by Oclaro, Inc. ("Oclaro").
Under the terms of the transaction, Opnext shareholders would receive only 0.42 shares of Oclaro stock for each share of Opnext stock they own. The transaction values Opnext stock at approximately $1.96 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Opnext for not acting in the Company's shareholders' best interests in connection with the sale process to Oclaro. The transaction may undervalue Opnext as Opnext stock traded at $2.88 on May 31, 2011 and traded at $2.27 on July 22, 2011.
If you own shares of Opnext stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [email protected], visiting http://brodsky-smith.com/403-opxt-opnext-inc.html, or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC