NEW YORK, July 15, 2014 (GLOBE NEWSWIRE) -- The fairness of the proposed acquisition of URS Corporation ("URS" or the "Company") by AECOM Technology Corporation ("ACM") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. The examination is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of URS for agreeing to sell the Company to ACM. On July 13, 2014, the companies jointly announced they had reached a definitive agreement for ACM to acquire URS in a transaction valued at approximately $6 billion, inclusive of debt. Under the terms of the agreement, URS shareholders will receive $33 in cash and 0.734 shares of ACM for each URS share, representing a total consideration of approximately $56.31 based on ACM stock's closing price on July 11, 2014. Shareholders may also elect to receive the consideration entirely in cash or stock, subject to certain adjustments.
WeissLaw LLP is investigating whether URS' Board acted to maximize shareholder value prior to entering into the agreement with ACM. Notably, the offer price represents a mere 8.2% premium over the Company's July 11, 2014 closing price of $52.02.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell URS and whether URS shareholders will obtain their fair proportionate share of the Company's continued success and future growth prospects. If you own URS shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
The firm is also in the process of investigations on behalf of shareholders of Medical Action Industries Inc., PLX Technology Inc., Integrys Energy Group, and Measurement Specialties, Inc.
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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