NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors of its investigation into whether the board members of FLIR Systems, Inc. (NASDAQ: FLIR) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Teledyne Technologies Incorporated (NYSE: TDY). Stockholders are scheduled to vote on whether to approve the merger at a special meeting of stockholders on May 13, 2021.
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On January 4, 2020, FLIR Systems announced that it had signed an agreement to be acquired by Teledyne for approximately $8 billion. Pursuant to the merger agreement, FLIR Systems stockholders will receive $28 in cash and 0.0718 shares of Teledyne common stock for each share of FLIR Systems common stock owned. On April 12, 2021 FLIR Systems released a Definitive Proxy Statement recommending that stockholders vote in favor of the proposed merger with Teledyne. The deal is scheduled to close in the middle of 2021.
Bragar Eagel & Squire is concerned that FLIR Systems’ board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for FLIR Systems’ stockholders.
If you own shares of FLIR Systems and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.