A lawsuit was filed for investors in shares of Dynamics Research Corporation (NASDAQ:DRCO) in effort to halt the proposed takeover and NASDAQ:DRCO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/28/2014 -- An investor who currently holds shares of Dynamics Research Corporation (NASDAQ:DRCO filed a lawsuit in effort to halt the proposed takeover of Dynamics Research Corporation by Engility Holdings, Inc. for $11.50 per share.
Investors who purchased shares of Dynamics Research Corporation (NASDAQ:DRCO) and currently hold any of those NASDAQ:DRCO shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:DRCO stockholders arising out of the attempt to sell Dynamics Research Corporation too cheaply via an unfair process to Engility Holdings, Inc
On December 23, 2013, Engility Holdings, Inc. and Dynamics Research Corporation announced that they have entered into an agreement under which Engility Holdings, Inc will acquire Dynamics Research Corporation. Under the terms of the agreement, Engility Holdings, Inc. will commence a tender offer for all outstanding shares of Dynamics Research Corporation common stock at a price of $11.50 in cash for each outstanding share.
However, the plaintiff alleges that the $11.50-offer is too low and undervalues Dynamics Research Corporation. In addition, the plaintiff claims that the process is also unfair to NASDAQ:DRCO sotckholders.
On January 27, 2014 NASDAQ:DRCO shares closed at $11.49 per share.
Those who are current investors in Dynamics Research Corporation shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego