The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into
Possible Breaches of Fiduciary Duty by the Board of GTEC
Levi & Korsinsky is investigating the Board of Directors of Global
Defense & Technology Systems, Inc. (“GTEC” or the “Company”) (Nasdaq:
GTEC) for possible breaches of fiduciary duty and other violations of
state law in connection with the sale of the company to an affiliate of
Ares Management LLC.
New York, NY, March 04, 2011 -- Levi & Korsinsky is investigating the
Board of Directors of Global Defense & Technology Systems, Inc. (“GTEC”
or the “Company”) (Nasdaq: GTEC) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of the
company to an affiliate of Ares Management LLC (“Ares”). Under the terms
of the agreement, GTEC stockholders will receive $24.25 in cash per GTEC
share they own. The transaction has a total value of approximately $315
million, including the assumption of debt.
Click here to learn more about the investigation:
http://www.zlk.com/global-defense-gtec.html, or call: 877-363-5972.
The investigation concerns whether the GTEC Board of Directors breached
their fiduciary duties to GTEC stockholders by failing to adequately shop
the Company before entering into this transaction and whether Ares is
underpaying for GTEC shares, thus unlawfully harming GTEC stockholders.
Damian Perl, the founder and Chief Executive of Global Strategies Group
(GLOBAL), former sole beneficial owner of GTEC and a current GTEC
director, entered into a tender and voting agreement in support of the
offer. GLOBAL is the largest beneficial shareholder in GTEC, owning
approximately 42% of GTEC outstanding stock.
If you own common stock in GTEC and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-
5972, or visit http://www.zlk.com/global-defense-gtec.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. For more information, please feel
free to contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
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 St, 15th Floor
New York, NY 10004