Kendall Law Group Investigates Double-Take Software, Inc. Merger for Shareholders
May 18 2010 - 12:41PM
Business Wire
Kendall Law Group, a national securities firm, is investigating
Double-Take Software, Inc. (NASDAQ:DBTK) for shareholders in
connection with the proposed acquisition by Vision Solutions, Inc.
The firm’s investigation seeks to determine whether Double-Take and
its Board breached their fiduciary duties by entering into the
agreement without properly shopping for a deal that would provide
better value for shareholders. If you are a DBTK shareholder and
would like additional information about your rights, contact the
Kendall Law Group at 877-744-3728 or by email at
skendall@kendalllawgroup.com.
The companies announced on May 17, 2010 that they had entered
into an agreement for Double-Take to be acquired by Vision
Solutions. The $242 million transaction is expected to close by the
third quarter of 2010. According to the agreement, DBTK
shareholders will receive $10.55 in cash, which represents only 9%
over the closing price before the deal was announced. Double-Take
stock closed as high as $10.98 as the news hit the market that the
Company was considering a merger agreement, and as high as $10.35
on January 20, 2010. Due to these factors, the firm believes the
transaction undervalues the company.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in nearly 100 merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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