SOURCE: Brower Piven, A Professional Corporation

July 14, 2010 12:55 ET

Brower Piven Announces Class Action Lawsuit in Connection With the Acquisition of CPI International, Inc. by Comtech Telecommunications Corp.

STEVENSON, MD--(Marketwire - July 14, 2010) -  Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the Superior Court of the State of California, County of Santa Clara, on behalf of all shareholders of CPI International, Inc. ("CPI" or the "Company") (NASDAQ: CPII). 

The complaint asserts claims that arise from defendants' actions in causing CPI to agree to be sold to Comtech Telecommunications Corp. ("Comtech") in a transaction which protects and advances the interest of CPI's directors at the expense of CPI's public shareholders (the "Sale Agreement"). Specifically, the complaint alleges that all CPI's directors will receive significant personal compensation as a result of the Sale Agreement -- compensation that they would not otherwise receive at this time absent the Sale Agreement. According to the complaint, this conflict of interest caused these directors to be unable to fairly and thoroughly evaluate the Sale Agreement to ensure that it is in the best interest of CPI and its public shareholders. The complaint also alleges that defendants have made efforts to conceal material information from plaintiff and CPI's other public shareholders in conjunction with the Sale Agreement which should have been disclosed in the Registration Statement that CPI's directors have caused to be filed with the SEC and distributed to plaintiff and CPI's other shareholders.

If you are a current owner of shares of CPI International, Inc., you may obtain additional information about this lawsuit by contacting Brower Piven at www.browerpiven.com, by email at piven@browerpiven.com, by calling 410/415-6701, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6701
    Email Contact