Rigrodsky & Long, P.A. Investigates Integral Systems, Inc. Buyout for Shareholders

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Integral Systems, Inc. (“Integral Systems” or the “Company”) (Nasdaq: ISYS) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Kratos Defense & Security Solutions, Inc. (“Kratos”) (Nasdaq: KTOS) in a transaction with an enterprise value of approximately $266 million. 

Under the proposed agreement, Integral Systems shareholders will receive an amount in cash and stock having an aggregate value of approximately $13.00 per share as of the date of the agreement.  Specifically, each Integral Systems share will be converted into $5.00 in cash and 0.588 of a share of Kratos common stock.

The investigation concerns whether Integral Systems’ board of directors failed to adequately shop the Company and obtain the best price possible for Integral Systems’ shareholders before entering into the agreement with Kratos.  Indeed, Integral Systems’ directors and Vintage Capital Management, LLC, who collectively beneficially own approximately 12.4 percent of the voting power of Integral Systems, and Kratos shareholders who collectively beneficially own approximately 5.2 percent of the voting power of Kratos, have signed voting agreements and irrevocable proxies to vote in favor of the transaction.

If you own the common stock of Integral Systems and purchased your shares before May 16, 2011, 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 Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.