Laser Precision Corp.: A shareholder has filed...
Laser Precision Corp.: A shareholder has filed a lawsuit seeking to stop a planned sale of the company to a Danish corporation for $8 a share.
In the suit filed Thursday in Orange County Superior Court in Santa Ana, shareholder Joseph J. Nicholas alleges that Laser Precision’s board failed to protect shareholder interests by agreeing to sell the company. Laser Precision on Nov. 2 said it had agreed to be acquired by GN Great Nordic Ltd. in a deal valued at $38 million.
Laser Precision President C. Frederick Sehnert said that the suit is “without merit, and we intend to defend it vigorously.”
Laser Precision, based in San Juan Capistrano, manufactures test and measurement instruments. Its stock was unchanged at $7.78 in Nasdaq trading on Tuesday.
