NEW YORK, Oct. 24, 2017 /PRNewswire/ -- The fairness of the
proposed acquisition of Broadsoft Inc. ("BSFT" or the "Company")
(NASDAQ: BSFT) by Cisco Systems Inc. ("CSCO") (NASDAQ: CSCO) is the
subject of an investigation by WeissLaw LLP, a national class
action and shareholder rights law firm. The investigation
focuses on possible breaches of fiduciary duty and other violations
of law by the Board of Directors of BSFT for agreeing to sell the
Company to CSCO. On October 23,
2017, the Company announced a definitive agreement for CSCO
to acquire BSFT in a transaction valued at approximately
$1.9 billion. Under the terms
of the agreement, shareholders of the Company will receive
$55.00 in cash for each BSFT share
they own.
WeissLaw is investigating whether BSFT's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, BSFT reported a 9% year-over-year increase in total
revenue to $88.8 million in the
second quarter of 2017. Moreover, the offer price of
$55.00 represents a measly 2% premium
over the Company October 20 closing
price of $53.90.
Given these facts, WeissLaw is investigating whether the BSFT
Board acted in the best interests of BSFT's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with BSFT. If you own BSFT
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/broadsoft-inc/
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SOURCE WeissLaw LLP