Robbins Umeda LLP Announces an Investigation of the Acquisition of Keithley Instruments, Inc. by Danaher Corporation
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors (“Board”) of Keithley Instruments, Inc. (“Keithley” or the “Company”) (NYSE: KEI) in connection with their efforts to sell Keithley to Danaher Corporation (“Danaher”) (NYSE: DHR). If the transaction is completed, Keithley shareholders will receive $21.60 in cash for each share of Keithley common stock they hold. The transaction is expected to be completed during the fourth quarter of the 2010 calendar year.
Robbins Umeda LLP’s investigation concerns whether Keithley’s Board undertook a fair process to obtain fair consideration for all shareholders of Keithley. Specifically, our investigation concerns whether members of the Company’s Board breached their fiduciary duties to Keithley shareholders by failing to adequately shop the Company before entering into the transaction with Danaher. Of particular note, Keithley had a strong third quarter of 2010, reporting net sales of $30.7 million, an increase of 31% for the same quarter of the prior year.
If you are a shareholder of Keithley, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.