Rigrodsky & Long Investigates LaserCard Acquisition

Rigrodsky & Long, P.A. is investigating potential claims against the board of directors of LaserCard Corporation concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by ASSA ABLOY AB in a transaction valued at approximately $80 million.

Under the proposed agreement, a subsidiary of ASSA ABLOY will commence a cash tender offer to acquire LaserCard’s outstanding shares of common stock at $6.25 per share, net to each holder in cash.

The investigation concerns whether LaserCard’s board of directors failed to adequately shop the Company and obtain the best price possible for LaserCard’s shareholders before entering into the agreement with ASSA ABLOY. Upon LaserCard’s October 28, 2010 announcement of its financial results for the fiscal second quarter of 2010, Robert DeVincenzi, President and CEO of LaserCard commented: “We have achieved profitability over the past seven quarters due to the ongoing contributions from our core customer programs and the previously implemented refinements to our cost model”.