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ARGON ST, Inc. Investors File Lawsuit Against STST Board

  • If you currently hold shares of ARGON ST, Inc. (NASDAQ:STST), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Argon ST, Inc.
Security
NASDAQ: STST

Case Name
Argon ST Deal Case 07/09/2010
Type of Lawsuit
Mergers and Acquisition
Court of Filing
Atlanta State Court

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Summary

An investor in STST shares filed a lawsuit in Atlanta Court on behalf of current investors ARGON ST, Inc. (NASDAQ:STST) alleging breaches of fiduciary duty by certain members of the ARGON ST board of directors for selling ARGON ST too cheaply though an unfair process to Boeing.
Argon ST, Inc., located in Fairfax, VA, is a systems engineering, development and services company.

On Wednesday, June 30, 2010, Argon ST [NASDAQ: STST] and The Boeing Company [NYSE: BA] announced that they have entered into an agreement for Boeing's acquisition of Argon ST in an all cash tender offer and merger for $34.50 per share, or approximately $775 million, net of cash acquired. The definitive agreement was unanimously approved by Argon ST's Board of Directors.

Shares of ARGON ST, Inc. (STST) traded after the announcement at $34.21 per share, and at $24 per share the trading day before the news.

According to the complaint the plaintiff alleges breaches of fiduciary duty by the Board of Directors of ARGON ST, Inc. (NASDAQ:STST) arising out of their attempt to sell ARGON ST, Inc. to The Boeing Company at an unfair price through an unfair process.