NEW YORK, NY -- (Marketwire) -- 06/25/09 -- Levi & Korsinsky announces that a class action lawsuit has been filed in Connecticut state court challenging the proposed acquisition of Axsys Technologies, Inc. ("Axsys" or the "Company") (NASDAQ: AXYS).
The Complaint arises out of the announcement by Axsys stating that it had entered into a definitive merger agreement with General Dynamics Corp. Under the terms of the merger agreement, Axsys shareholders will receive $54 in cash for each share they own for a total transaction value of approximately $643 million. The price appears to be unfair given that in 2008 Axsys generated $245.48 million in total revenue with a net income of $25.87 million and Axsys shares traded over $72 per share as recently as December 2008. If you own common stock in Axsys and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/axys1.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.