Force Protection, Inc. Merger Under Investor Investigation

If you purchased shares of Force Protection, Inc. (NASDAQ: FRPT) prior to the announcement and currently hold those shares, you have certain options and you should contact the Shareholders Foundation, Inc

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Company Name(s): 
Force Protection
Affected Securities: 

San Diego, Nov. 7, 2011 (Shareholders Foundation) -- The announcement that Force Protection, Inc. agreed to be acquired by General Dynamics for $5.52 per share prompted an investigation on behalf of investors of Force Protection (NASDAQ:FRPT) concerning whether the offer to acquire Force Protection and the buyout process are unfair to investors of Force Protection (FRPT) and whether certain of its officers and directors or others breach their fiduciary duties owed investors in NASDAQ: FRPT shares.

The investigation by a law firm concerns whether Force Protection Inc, certain of its officers and directors, and/or others breached their fiduciary duties owed to Force Protection (NASDAQ:FRPT) investors in connection with the proposed acquisition.

On Monday, Nov. 7, 2011, Force Protection, Inc. (NASDAQ: FRPT) and General Dynamics (NYSE: GD) announced that they have entered into a merger agreement under which General Dynamics will acquire Force Protection for a price of $5.52 per share of common stock, or approximately $360 million.

However, shares of Force Protection, Inc. (Public, NASDAQ:FRPT) traded in February as high as $5.58 and in January even as high as $5.90 per share, leaving certain FRPT stockholders with no premium, but asking them to hand over their shares at a discount. Additionally, also at least one analyst has set the high target price for FRPT stocks at $8 per share.

Therefore, the investigation concerns whether the Force Protection Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to Force Protection, Inc. (FRPT) shareholders by failing to adequately shop the Company before entering into this transaction. Furthermore the investigation concerns on whether General Dynamics would underpay for NASDAQ:FRPT shares, thus unlawfully harming Force Protection (FRPT) stockholders.

A potential securities class action lawsuit would seek to maximize the amount of money and information Force Protection shareholders would receive in a buyout, so the law firm.