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Law Firm Brower Piven Announces Investigation in Connection With the Acquisition of SRS Labs, Inc. by DTS, Inc.

STEVENSON, Md. -- The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of SRS Labs, Inc. ("SRS") (NASDAQ: SRSL) and other violations of state law by the board of directors of SRS relating to the proposed acquisition of the company by DTS, Inc ("DTS"). The firm's investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.

On April 17, 2012, DTS and SRS announced that they had entered into a definitive agreement providing for DTS to acquire SRS in a cash-and-stock transaction valued at approximately $148 million. Under the terms of the agreement, SRS shareholders may elect to receive either $9.50 per share in cash or a fixed ratio of 0.31127 shares of DTS common stock for every share of SRS common stock they own. However, according to Yahoo! Finance, at least one analyst has set a high price target of $10.00 per share.

SRS Labs' chairman, CEO and president, Thomas C.K. Yuen, and certain of his family members and affiliates, who together hold approximately 20% of the outstanding SRS shares, have already agreed to vote in favor of the merger.

If you currently own shares of SRS and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
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Publication:Business Wire
Date:Apr 17, 2012
Words:334
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