AXSYS Technologies, Inc.

Summary of Case:

A securities class action has been filed against AXSYS Technologies, Inc. ("AXSYS" or the "Company") on behalf of all securites purchasers. 

The complaint alleges that Defendants, Axsys and its Board of Directors seeking breached their fiduciary duty and other violations of state law arising out of their attempt to sell the Company to Defendants General Dynamics Advanced Information Systems, Inc. and Vision Merger Sub, Inc. by means of an unfair process and for an unfair price of $54.00 per share in cash for each share of Axsys common stock (the "Proposed Transaction"). The Proposed Transaction is valued at approximately $643 Million.

The complaint alleges that Defendants, and each of them, initiated a course of conduct which was designed to and did: (i) permit General Dynamics to attempt to eliminate the public shareholders' equity interest in Axsys pursuant to a defective sales process, and (ii) permit General Dynamics to buy the Company for an unfair price.

If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.