Block & Leviton LLP Investigates Tekelec for Possible Breaches of Fiduciary Duties In Takeover Bid by Siris Capital Group, LLC

BOSTON, Nov. 7, 2011 /PRNewswire/ -- Block & Leviton LLP, a Boston based law firm with experience in representing investors in protecting their rights, is investigating whether the Board of Directors of Tekelec, Inc. ("Tekelec" or the "Company") (NASDAQ: TKLC) breached their duties in agreeing to sell the Company to a consortium of private investors led by Siris Capital Group, LLC and others (together, the "Siris group").  

On November 7, 2011 Tekelec and the Siris group entered into an agreement whereby the Siris group would acquire all Tekelec common stock for $11.00 per share.  The offer price represents an 11% premium to Tekelec's closing price on Friday, November 4, 2011.  Certain analysts have stated that Tekelec is worth as much as $16 per share.

If you own stock in Tekelec please contact us to discuss your rights with regard to this transaction or if you have any questions.

BLOCK & LEVITON LLP
Jeffrey C. Block, Esq.
Scott A. Mays, Esq.
[email protected]
(617) 398-5600

The attorneys at Block & Leviton have more than 40 years of experience in representing individual and institutional investors in shareholder rights actions.  

This may constitute attorney advertising.

SOURCE Block & Leviton LLP

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