News & Events

ANN Shareholder Alert – Investors encouraged to contact law firm

ANN INC. ALERT – National Securities Law Firm Seeks Higher Price for Ann Shareholders in Connection with its Acquisition, and Encourages Shareholders to Contact Law Firm for More Information

May 18, 2015
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Ann Inc. (NYSE: ANN) (“Ann” or the “Company”) on behalf of its shareholders. ascena retail group, inc. will acquire Ann for a combination of cash and stock in which Ann stockholders will receive $37.34 in cash and 0.68 of a share of ascena common stock in exchange for each share of Ann common stock. At closing, Ann stockholders will own approximately 16% of ascena.

Our investigation has determined that the implied offer price of only $47 per share (based upon the closing price of ascena stock on May 15, 2015), unfairly under-values the true going forward inherent value of Ann and that shareholders are not receiving the maximum value for their shares. Indeed, ascena has identified $150 million in annualized run rate synergies in the combination that it expects to generate over a three-year period. Excluding transaction and integration expenses, the acquisition is expected to be significantly accretive to asena EPS in the first year post closing, accelerating to greater than 20% accretion to EPS thereafter. The investigation further seeks to determine whether the senior management of Ann is entering into this deal for their own self-interests to the detriment of the Company’s shareholders.

If you are a shareholder of Ann and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.

Quality Shareholder Alert – Investors encouraged to contact law firm

QUALITY SHAREHOLDER ALERT – National Securities Law Firm Seeks Higher Price for Quality Distribution Shareholders in Connection with its Acquisition, and Encourages Shareholders to Contact Law Firm for More Information

May 7, 2015
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Quality Distribution, Inc. (NASDAQ: QLTY) (“Quality” or the “Company”) on behalf of its shareholders. Quality announced that it has entered into a definitive agreement to be acquired by funds advised by Apax Partners for $16 per share in cash.

Our investigation has determined that the offer price of only $16 per share unfairly under-values the true going forward inherent value of Quality and that shareholders are not receiving the maximum value for their shares. Indeed, among other things, an analyst has opined that the Company is worth at least $18 per share and the Company announced, on the same day, improved financial results for its first quarter ended 2015. The investigation further seeks to determine whether the senior management of Quality are entering into this deal for their own self-interests to the detriment of the Company’s shareholders. Indeed, Quality management is expected to remain with the Company in the same capacity.

If you are a shareholder of Quality and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.

OmniVision Shareholder Alert – Investors encouraged to contact law firm

OMNIVISION SHAREHOLDER ALERT – National Securities Law Firm Seeks Higher Price for OmniVision Technologies Shareholders in Connection with its Acquisition, and Encourages Shareholders to Contact Law Firm for More Information

April 30, 2015
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of OmniVision Technologies, Inc. (NASDAQ: OVTI) (“OmniVision” or the “Company”) on behalf of its shareholders. OmniVision announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd. Under the terms of the agreement, OmniVision stockholders will receive $29.75 per share in cash or a total of approximately $1.9 billion.

Our investigation has determined that the offer price of only $29.75 per share unfairly under-values the true going forward inherent value of OmniVision and that shareholders are not receiving the maximum value for their shares. Indeed, among other things, the Company has over $513 million of cash on its balance sheet or $8.83 per share in cash. Further, the book value per share of the Company is $19.13 per share. In addition, analysts have opined that the Company is worth at least $35 per share and the stock has traded as high as $29.95 within the past year. The investigation further seeks to determine whether the senior management of OmniVision are entering into this deal for their own self-interests to the detriment of the Company’s shareholders. Indeed, OmniVision CEO Shaw Hong is expected to remain with OmniVision in the same capacity.

If you are a shareholder of OmniVision and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.

MCG Capital Corporation Shareholder Alert – Investors encouraged to contact law firm

MCG CAPITAL SHAREHOLDER ALERT – National Securities Law Firm Seeks Higher Price for MCG Capital Shareholders in Connection with its Acquisition, and Encourages Shareholders to Contact Law Firm for More Information

April 29, 2015
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of MCG Capital Corporation (NASDAQ: MCGC) (“MCG” or the “Company”) on behalf of its shareholders. PennantPark Floating Rate Capital Ltd. (“PFLT”) and MCG announced that they have entered into a definitive agreement under which PFLT will acquire MCG in a stock and cash transaction currently valued at approximately $175 million, or approximately $4.75 per MCG share. Under the terms of the transaction, MCG stockholders will receive $4.521 in PFLT shares for each MCGC share. Additionally, each MCG shareholder will receive $0.226 per share in cash. Following the transaction, PFLT stockholders are expected to own approximately 56% of the combined company and MCG stockholders will own approximately 44%.

Our investigation has determined that the offer price of only $4.75 per share unfairly under-values the true going forward inherent value of MCG and that shareholders are not receiving the maximum value for their shares. Indeed, among other things, the Company has over $105 million of cash on its balance sheet or $2.85 per share in cash, and no long-term debt. Further, the book value per share of the Company is $4.69 per share. The investigation further seeks to determine whether the senior management of MCG are entering into this deal for their own self-interests to the detriment of the Company’s shareholders.

If you are a shareholder of MCG and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.

Procera Networks Shareholder Alert – Investors encouraged to contact law firm

PROCERA NETWORKS SHAREHOLDER ALERT – National Securities Law Firm Seeks Higher Price for Procera Shareholders in Connection with its Acquisition, and Encourages Shareholders to Contact Law Firm for More Information

April 22, 2015
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Procera Networks, Inc. (NASDAQ: PKT) (“Procera” or the “Company”) on behalf of its shareholders. Procera announced that it has signed a definitive agreement to be acquired by private funds managed by Francisco Partners Management, L.P., a private equity firm, in an all-cash transaction valued at approximately $240 million. Under the terms of the definitive agreement, Francisco Partners will commence a tender offer to acquire all outstanding shares of Procera’s common stock for $11.50 per share in cash.

Our investigation has determined that the offer price of only $11.50 per share unfairly under-values the true going forward inherent value of Procera and that shareholders are not receiving the maximum value for their shares. Indeed, among other things, the Company has over $102 million of cash on its balance sheet or $5.08 per share in cash, and no long term debt. The book value per share of the Company is $6.35 per share, and an analyst has projected that the price of the stock is worth at least $12 per share. The investigation further seeks to determine whether the senior management of Procera are entering into this deal for their own self-interests to the detriment of the Company’s shareholders.

If you are a shareholder of Procera and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-511-7037 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.

^