Block & Leviton LLP Investigates URS Corporation for Possible Breaches of Fiduciary Duty in Connection with Its Merger with AECOM Technology Corporation

BOSTON, July 13, 2014 /PRNewswire/ --

Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of URS Corporation ("URS" or the "Company") (NYSE: URS) concerning the proposed merger of the Company with AECOM Technology Corporation ("ACM") in a cash and stock transaction.

Under the terms of the proposed transaction, URS stockholders will receive per share consideration equal to $33.00 in cash and 0.734 shares of ACM common stock for each URS share.  Based on the closing price of ACM stock on Friday, July 11, 2014, URS shareholders will receive only $56.31 per share.  This represents a negative premium to the Company's high trading price of $56.70, reached on the last trading day prior to the merger's announcement, and demonstrates that investors likely believed the Company's value is significantly higher.  URS investors may elect to receive all cash or all stock consideration, subject to proration in the event of oversubscription.  The total value for URS is estimated at approximately $4 billion.  Company executives have not publicly commented as to whether the price paid to URS acquisition is subject to a price collar protecting URS investor's interests.  Following the proposed merger, URS shareholders will own no more than 35% of ACM.

Block & Leviton's investigation seeks to determine, among other things, whether URS's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed merger with ACM and the fairness of the process by which the URS Directors considered and approved the transaction.

If you are a shareholder of URS Corporation and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, at (617) 398-5600 or email him at [email protected]. 

Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 70 years.  This notice may constitute attorney advertising.

Contact:

BLOCK & LEVITON LLP

Steven P. Harte, Esq.

[email protected]

(617) 398-5600

SOURCE Block & Leviton LLP

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