Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of ActivIdentity Corporation
October 12 2010 - 8:30PM
Business Wire
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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