SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of The Board of Directors of Actuate Corp. Regarding the Fair...
December 19 2014 - 9:35PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Actuate Corporation ("Actuate" or "the Company") (Nasdaq: BIRT) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to Open-Text
Corporation.
Click here to learn more about the investigation
http://brodsky-smith.com/864-birt-actuate-corporation.html, or
call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Actuate shareholders will
receive $6.60 in cash for each share of Actuate stock they own. The
investigation concerns whether the Board of Actuate Corporation
breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into this
transaction, and whether Open-Text Corporation is underpaying for
Actuate shares. The transaction may undervalue Actuate and will
result in a loss for many Actuate shareholders as BIRT stock traded
at $7.91 per share on January 17, 2014 and an analyst set a price
target for Actuate stock at $7.00 per share.
If you own shares of Actuate common stock and wish to discuss
the legal ramifications of the investigation, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 510, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, by visiting
http://brodsky-smith.com/864-birt-actuate-corporation.html, or
calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and case action lawsuits. The attorneys at Brodsky &
Smith have been appointed by numerous courts throughout the country
to serve as lead counsel in class actions and have successfully
recovered millions of dollars for our clients and shareholders.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Brodsky & Smith, LLCJason L. Brodsky, EsquireEvan J. Smith,
Esquire877-LEGAL-90investorrelations@brodsky-smith.comhttp://brodsky-smith.com/864-birt-actuate-corporation.html