SOURCE: Rigrodsky & Long, P.A.

August 01, 2012 15:07 ET

Rigrodsky & Long, P.A. Announces Investigation of AuthenTec, Inc. Buyout

WILMINGTON, DE--(Marketwire - Aug 1, 2012) - Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of AuthenTec, Inc. ("AuthenTec" or the "Company") (NASDAQ: AUTH) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Apple Inc. ("Apple") (NASDAQ: AAPL) in a transaction valued at approximately $356 million. 

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Under the terms of the proposal, public shareholders of AuthenTec will receive $8.00 per share in cash for each share of AuthenTec they own. 

The investigation concerns whether AuthenTec's board of directors failed to adequately shop the Company and obtain the best possible value for AuthenTec's shareholders before entering into an agreement with Apple. 

If you own the common stock of AuthenTec and purchased your shares before July 26, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to, or at: At the current time, one action has been filed in Delaware Chancery Court. 

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

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