August 14, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Planar Systems, Inc. (NASDAQ:PLNR), was announced concerning whether the takeover of Planar Systems, Inc. by Leyard Optoelectronic Co., Ltd for $6.58 per share is unfair to NASDAQ:PLNR stockholders.

The investigation by a law firm concerns whether certain officers and directors of Planar Systems, Inc. breached their fiduciary duties owed to NASDAQ:PLNR investors in connection with the proposed acquisition.

On August 12, 2015 Leyard Optoelectronic Co., Ltd. and Planar Systems, Inc. (NASDAQ:PLNR) announced that they have entered into a merger agreement, pursuant to which a U.S. affiliate of Leyard Optoelectronic Co., Ltd will acquire all of the common stock of Planar Systems, Inc. (NASDAQ:PLNR) for a purchase price of $6.58 per share.

However, given that at least one analyst has set the high target price for NASDAQ:PLNR shares at $7.50 per share and give that NASDAQ:PLNR shares traded in early 2015 as high as $8.36 per share, the investigation concerns whether the offer is unfair to (NASDAQ:PLNR stockholders. More specifically, the investigation concerns whether the Planar Systems Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Planar Systems, Inc. reported that its Total Revenue rose from $166.81 million for the 12 months period that ended on September 27, 2013 to $179 million for the 12 months period that ended on September 26, 2014 and that its Net loss of $6.54 million for the 12 months period that ended on September 27, 2013 turned to a Net Income of $3.80 million for the 12 months period that ended on September 26, 2014.

Shares of Planar Systems, Inc. (NASDAQ:PLNR) grew from $3.10 per share in October 2014 to as high as $8.36 per share on January 2, 2015.