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Dynamics Research Corporation (NASDAQ:DRCO) Investor Files Lawsuit Over Alleged Breaches Of Fiduciary Duties In Takeover

  • If you purchased shares of Dynamics Research Corporation (NASDAQ:DRCO) and currently hold any of those NASDAQ:DRCO shares, 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
Dynamics Research Corporation
Security
NASDAQ: DRCO

Case Name
Dynamics Research Deal Case 01/24/2014
Type of Lawsuit
Mergers and Acquisition
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Summary

January 27, 2014 (Shareholders Foundation) - An investor who currently holds shares of Dynamics Research Corporation (NASDAQ:DRCO filed a lawsuit in effort to halt the proposed takeover of Dynamics Research Corporation by Engility Holdings, Inc. for $11.50 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:DRCO stockholders arising out of the attempt to sell Dynamics Research Corporation too cheaply via an unfair process to Engility Holdings, Inc

On December 23, 2013, Engility Holdings, Inc. and Dynamics Research Corporation announced that they have entered into an agreement under which Engility Holdings, Inc will acquire Dynamics Research Corporation. Under the terms of the agreement, Engility Holdings, Inc. will commence a tender offer for all outstanding shares of Dynamics Research Corporation common stock at a price of $11.50 in cash for each outstanding share.

However, the plaintiff alleges that the $11.50-offer is too low and undervalues Dynamics Research Corporation. In addition, the plaintiff claims that the process is also unfair to NASDAQ:DRCO sotckholders.

On January 27, 2014 NASDAQ:DRCO shares closed at $11.49 per share.