Tekelec (TKLC) just announced it is being acquired for $11. The following is from the Class Action claim form that also came out today (full details under Yahoo News on TKLC or see the URL below)

"The investigation concerns whether the Tekelec Board of Directors breached their fiduciary duties to Tekelec stockholders by failing to adequately shop the Company before entering into this transaction and whether Siris Capital Group, LLC is underpaying for Tekelec shares, thus unlawfully harming Tekelec stockholders. In particular, at least one analyst set a price target of $16.00 per Tekelec share and Tekelec shares traded as high as $12.10 as recently as February 2011."

I wonder how this might apply to the Swartz PTSC warrants situation, and whether the statute of limitation has expired? Anyone know the applicable law(s)? Note this specifically targets the BOD.

e.g.

"The investigation concerns whether the Patriot Scientific (PTSC) Board of Directors breached their fiduciary duties to PTSC stockholders by failing to adequately shop the Company before entering into this transaction and whether Swartz's business entity underpaid for PTSC shares or warrants, thus unlawfully harming PTSC stockholders. In particular, at least one analyst set a price target of $xx.xx per PTSC share and PTSC shares traded as high as $xx.xx as recently as xxxxxx 20xx."

See:

http://finance.yahoo.com/news/The-Law-Firm-of-Levi-prnews-1388999448.html?x=0