|[September 03, 2014]
SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of XRS Corporation In Connection With The Proposed Sale Of The Company To Omnitracs, LLC
STEVENSON, Md. --(Business Wire)--
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of XRS Corporation ("XRS" or the "Company") (NASDAQ: XRSC)
relating to the proposed buyout of the Company by Omnitracs, LLC
On September 2, 2014, Omnitracs announced that it has agreed to acquire
XRS Corporation in a transaction valued at approximately $178 million.
Under the terms of the transaction, XRS shareholders are anticipated to
receive $5.60 in cash for each share of XRS they own. The acquisition is
expected to complete in the fourth quarter of 2014. Shareholders ofXRS
will likely be asked to vote on the transaction well before that time.
The firm's investigation seeks to determine, among other things, whether
the Company's Board of Directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into the
transaction, and whether Omnitracs is underpaying for XRS shares.
If you currently own common stock of XRS and would like to learn more
about the investigation being conducted by Brower Piven, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at firstname.lastname@example.org
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
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