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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of ActivIdentity Corporation

Date : 10/12/2010 @ 8:30PM
Source : Business Wire
Stock : Actividentity Corp (MM) (ACTI)
Quote : 3.24  0.0 (0.00%) @ 2:05AM
Actividentity Corp (MM) share price Chart

Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of ActivIdentity Corporation

Actividentity Corp (MM) (NASDAQ:ACTI)
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Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of ActivIdentity Corporation (“ActivIdentity” or the “Company”) (NASDAQ:ACTI) related to the Company’s agreement to be acquired by ASSA ABLOY AB (“ASSA ABLOY”). The proposed cash transaction is valued at approximately $162 million.

Under the terms of the definitive agreement entered into by the parties, ActivIdentity shareholders will receive $3.25 in cash for each share of the Company’s common stock they own. The transaction is expected to close in December 2010. If the transaction is completed, ActivIdentity will become part of ASSA ABLOY’s HID Global business. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by ActivIdentity’s board of directors.

If you own shares of ActivIdentity, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.



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