NEW YORK, Feb. 12, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Exelis Inc. ("XLS" or the "Company") by Harris Corporation ("Harris") is being investigated by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of XLS for agreeing to sell the Company to Harris. On February 6, 2015, the Company announced a definitive agreement for Harris to acquire XLS in a transaction valued at approximately $4.75 billion. Under the terms of the agreement, XLS shareholders will receive $16.25 in cash and 0.1025 share of Harris for each XLS share they own. This represents a consideration of $23.75 per share, based on Harris' February 5, 2015 closing price.
Given these facts, WeissLaw is investigating the Board's decision to sell XLS and whether XLS's shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own XLS shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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WeissLaw LLP
Joshua Rubin
Kelly Keenan
1500 Broadway, 16th Floor
New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslawllp.com
stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
