Opnext and Oclaro merger to be investigated
Ryan & Maniskas, LLP is investigating potential claims against the board of directors of Opnext, Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell Opnext to Oclaro, Inc. in a transaction valued at approximately $177 million.
The investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors. In particular, it centres on whether Opnext undertook a fair process to obtain fair consideration for all shareholders of Opnext.
Under the terms of the agreement, Opnext shareholders will receive a fixed ratio of 0.42 shares of Oclaro common stock for every share of Opnext common stock they own.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
