WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Sparton Corporation (“SPA” or the “Company”) (NYSE: SPA) in connection with the proposed acquisition of the Company by Ultra Electronics Holdings Plc (“Ultra”). Under the terms of the acquisition agreement, the Company’s shareholders will receive $23.50 in cash for each SPA share they own.
WeissLaw is investigating whether SPA’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, shares of SPA traded above the offer price as recently as March of this year. Additionally, prior to the acquisition announcement, SPA reported a sequential increase in gross profit margin of 140 basis points in the third quarter of fiscal year 2017.
Given these facts, WeissLaw is investigating whether SPA’s Board acted in the best interests of SPA’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own SPA shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/sparton-corporation/