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SRS Labs Investor Sues To Block $148M DTS Deal

Law360, New York (May 2, 2012, 3:35 PM EDT) -- An SRS Labs Inc. shareholder launched a proposed class action in Delaware on Wednesday challenging DTS Inc.'s $148 million bid for its fellow audio technology company, saying the offer rewards management at the expense of shareholders.

In seeking to stop the cash and stock transaction announced by the companies April 17, plaintiff Karen Fong claims the deal is fundamentally unfair to her and other public shareholders of the company and grants company insiders special benefits.

The complaint, filed in Delaware Chancery Court, accuses the Santa Ana,...
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