San Diego, CA -- (SBWIRE) -- 05/09/2012 -- An investigation on behalf of investors in NASDAQ:GTSI shares concerning whether the offer by an affiliate of UNICOM Systems, Inc.to take over GTSI Corp. at $7.75 per share and the takeover process are unfair to investors in GTSI Corp. was announced.
Investors who purchased shares of GTSI Corp. (NASDAQ:GTSI) prior to May 7, 2012 and currently hold any of those NASDAQ:GTSI shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigations by law firms concern whether certain officers and directors of GTSI Corp. breached their fiduciary duties owed to NASDAQ:GTSI investors in connection with the proposed acquisition.
On May. 7, 2012, GTSI Corp. (NASDAQ: GTSI) announced it has entered into an agreement to be acquired through a cash tender offer at $7.75 per share by an affiliate of UNICOM® Systems, Inc., in a transaction with an expected total value of approximately $76.67 million.
However, GTSI’s largest shareholder, Linwood (Chip) Lacy, who is also a director, a related entity, and another director have already entered into stockholder tender agreements in support of the transaction. Mr. Lacy and such related entity beneficially own approximately 17% of GTSI's common stock.
Therefore the investigation for NASDAQ:GTSI investors concerns whether the proposed transaction is unfair to GTSI Corp. stockholders. Specifically, the investigation focuses on whether the GTSI Corp. Board of Directors undertook an adequate sales process, in particularly adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in GTSI Corp. (NASDAQ:GTSI) and purchased their GTSI Corp. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego