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Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders of Sunair Services Corp.


  • Press Release
  • Source: Brodsky & Smith, LLC
  • On 3:35 pm EDT, Wednesday October 21, 2009

BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Sunair Services Corp. (“Sunair” or the “Company”) (Amex:SNR - News) relating to the proposed acquisition by Massey Services, Inc., (“Massey”).

Related Quotes

SymbolPriceChange
SNR2.71+0.04
Chart for SUNAIR ELEC INC
{"s" : "snr","k" : "c10,l10,p20,t10","o" : "","j" : ""}

Under the proposed agreement, Sunair shareholders will receive $2.75 for every share of Sunair common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Sunair board’s approval of the proposed merger. The transaction appears to be unfair, in part, given that Sunair may have previously rejected an offer from Massey to purchase the company for $3.00 per share. Sunair has a higher book value than the amount offered by Massey.

If you own shares of Sunair and wish to discuss the legal ramifications of the proposed acquisition by Massey, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.

Contact:

Brodsky & Smith, LLC,
Jason L. Brodsky, Esquire
Evan J. Smith, Esquire
877-LEGAL-90
clients@brodsky-smith.com

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