The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the
Board of Ulticom, Inc.
Levi & Korsinsky is investigating the Board of Directors of Ulticom, Inc.
(“Ulticom” or the “Company”) (NasdaqGM:ULCM) for possible breaches of
fiduciary duty and other violations of state law in connection with their
attempt to sell the Company to Platinum Equity, LLC (“Platinum Equity”).
New York, NY, October 14, 2010 -- Levi & Korsinsky is investigating the
Board of Directors of Ulticom, Inc. (“Ulticom” or the “Company”)
(NasdaqGM:ULCM) for possible breaches of fiduciary duty and other
violations of state law in connection with their attempt to sell the
Company to Platinum Equity, LLC (“Platinum Equity”). Under the terms of
the transaction, Ulticom will be acquired by an affiliate of Platinum
Equity with Ulticom shareholders receiving $2.33 per share in cash, after
payment of a special dividend in the amount of $5.74 per share in cash.
The transaction values Ulticom stock at $8.07 per share. Shares held by
Ulticom's controlling shareholder, Comverse Technology, Inc.
("Comverse"), will be purchased by Platinum Equity’s affiliate pursuant
to a separate share purchase agreement immediately prior to the closing
of the merger.
Click here to learn how to join the action: http://www.zlk.com/ulticom-
ulcm.html, or call: 877-363-5972.
The investigation concerns whether the Ulticom Board of Directors
breached their fiduciary duties to Ulticom stockholders by failing to
adequately shop the Company before entering into this transaction and
whether Platinum Equity is underpaying for Ulticom shares, thus
unlawfully harming Ulticom stockholders. In particular, at least one
analyst set a price target for Ulticom stock at $8.50 per share and the
Company's stock has traded as high as $10.50 per share as recently as
April 19, 2010.
If you own common stock in Ulticom and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email at
email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-
5972, or visit http://www.zlk.com/ulticom-ulcm.html.
Levi & Korsinsky has expertise in prosecuting investor securities
litigation and extensive experience in actions involving financial fraud
and represents investors throughout the nation, concentrating its
practice in securities and shareholder litigation. The attorneys at Levi
& Korsinsky have been appointed by numerous courts throughout the country
to serve as lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky,
Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363 -
7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Levi & Korsinsky, LLP
30 Broad Street, 15h Floor
New York, NY 10004