|[March 20, 2014]
Robbins Geller Rudman & Dowd LLP, Wolf Popper LLP, and Johnson & Weaver, LLP File Class Action Suit against Tellabs, Inc.
SAN DIEGO --(Business Wire)--
Geller Rudman & Dowd LLP ("Robbins Geller"), Wolf
Popper LLP, and Johnson
& Weaver, LLP today announced that a class action has been
commenced in the United States District Court for the Northern District
of Illinois on behalf of former holders of Tellabs, Inc. (News - Alert) ("Tellabs")
(NASDAQ:TLAB) common stock that was tendered or converted in connection
with the acquisition of Tellabs by Marlin Equity Partners, Blackhawk
Holding Vehicle LLC and Blackhawk Merger Sub Inc. (collectively
"Marlin") as described below.
If you wish to serve as lead plaintiff, you must move the Court no later
than 60 days from today. Any member of the putative class may move the
Court to serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent class member.
The complaint charges Tellabs and its Board of Directors (the "Board")
with violations of the Securities Exchange Act of 1934 ("Exchange Act")
and Tellabs, the Board and Marlin with breaches of fiduciary duty and/or
aiding and abetting breaches of fiduciary duty in connection with the
acquisition of Tellabs by Marlin (the "Acquisition"). Tellabs designs,
develops, and supports telecommunications networking products.
On October 21, 2013, Tellabs and Marlin announced that they had entered
into a definitive agreement pursuant to which Marlin would acquire all
of the outstanding shares of Tellabs via a tender offer (the "Tender
Offer"), which was commenced on November 1, 2013 for $2.45 per share in
cash (the "Acquisition Price"). The ender Offer closed at 11:59 p.m.,
New York City time on December 2, 2013 and was followed by a short-form
merger, which paid those shareholders who had not previously tendered
the Acquisition Price.
The complaint alleges that Tellabs and the Board violated §§14(e) and
20(a) of the Exchange Act by issuing a Schedule 14D-9
Solicitation/Recommendation Statement that contained untrue statements
of material fact, or omitted materials fact necessary in order to make
the statements made not misleading, or by engaging in fraudulent,
deceptive, or manipulative acts or practices in connection with the
Tender Offer. Also, in pursuing the Acquisition, each of the defendants
violated applicable state law by directly breaching and/or aiding and
abetting breaches of fiduciary duties of loyalty and due care owed to
Plaintiffs seek to recover damages on behalf of all holders of Tellabs
common stock who tendered their common stock through the Tender Offer or
whose common stock was converted to the Acquisition Price through the
short-form merger and were harmed by defendants' violations of the
Exchange Act, and all holders of Tellabs common stock whose common stock
was converted to the Acquisition Price through the short-form merger and
who were harmed by defendants' breaches of fiduciary duties as described
herein. The plaintiffs are represented by Robbins Geller, Wolf Popper,
and Johnson & Weaver, which have expertise in prosecuting investor class
actions and extensive experience in actions involving financial fraud.
If you wish to discuss this action or have any questions concerning this
notice or your rights or interests, please contact plaintiffs' counsel:
Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via
e-mail at firstname.lastname@example.org;
Chet Waldman of Wolf Popper at 877/370-7703 or 212/759-4600, or via
e-mail at email@example.com;
W. Scott Holleman of Johnson & Weaver at 212/802-1486, or via email at ScottH@johnsonandweaver.com.
Robbins Geller represents U.S. and international institutional investors
in contingency-based securities and corporate litigation. With nearly
200 lawyers in ten offices, the firm represents hundreds of public and
multi-employer pension funds with combined assets under management in
excess of $2 trillion. The firm has obtained many of the largest
recoveries in history and has been ranked number one in the number of
shareholder class action recoveries in MSCI's Top SCAS 50 every
year since 2003. Please visit http://www.rgrdlaw.com
for more information.
Wolf Popper LLP has successfully recovered billions of dollars for
defrauded investors. The firm's reputation and expertise have been
repeatedly recognized by the courts, which have appointed the firm to
major positions in complex multi-district and consolidated litigations.
Please visit http://www.wolfpopper.com
for more information.
Johnson & Weaver, LLP is a nationally recognized shareholders' rights
law firm with offices in New York, New York and San Diego, California.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
[ Back To TMCnet.com's Homepage ]