Law Office of Brodsky & Smith, LLC Announces Investigation of ATS Corporation
BALA CYNWYD, Pa., Feb. 22, 2012 /PRNewswire/ — Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of ATS Corporation (“ATS” or the “Company”) (NYSE AMEX: ATSC) relating to the proposed acquisition by Salient Federal Solutions, Inc. (“Salient”).
Under the terms of the transaction, ATS shareholders would receive only $3.20 in cash for each share of ATS stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of ATS for not acting in the Company’s shareholders’ best interests in connection with the sale process to Salient. The transaction may undervalue ATS as ATS stock traded at $4.75 on June 24, 2011 and traded at $3.33 as recently as February 2, 2012. In addition, it has been reported that members of ATS Board of Directors will receive one-time cash bonuses if the transaction is successfully completed.
If you own shares of ATS 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 firstname.lastname@example.org, visiting http://brodsky-smith.com/389-atsc-ats-corporation.html, or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC