NEW YORK, June 4, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of Axsys Technologies, Inc. ("Axsys" or the "Company") (Nasdaq:AXYS) arising out of their attempt to sell the Company to General Dynamics Corp. Under the terms of the agreement, Axsys shareholders will receive $54 in cash for each share they own for a total transaction value of approximately $643 million. The price is unfair given that Axsys shares traded over $72 per share as recently as December 2008 and analysts currently placed a median price target of $64 per share with a high price target of $80 per share.
If you own common stock in Axsys and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/axys1.html
L&K has experience in prosecuting investor securities litigation and an extensive practice in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.