Law Office of Jonathan M. Stein, P.L., Investigates Possible Breach of Fiduciary Duty by the Board of Epicor Software Corpora...
April 04 2011 - 1:25PM
Business Wire
The Law Office of Jonathan M. Stein, P.L. is investigating the
Board of Directors of Epicor Software Corporation ("Epicor" or the
"Company") (Nasdaq: EPIC) for possible breaches of fiduciary duty
and other violations of state law in connection with their attempt
to complete a sale of the Company to an affiliate of private equity
firm Apax Partners. Under the terms of the proposed transaction,
Epicor shareholders are to receive $12.50 in cash for each share of
Epicor common stock, for a total value of approximately $976
million.
The investigation involves whether the Board of Directors of
Epicor breached their fiduciary duties to Epicor stockholders by
failing to adequately shop the Company before agreeing to enter
into the transaction and whether Epicor has disclosed all material
information to shareholders about the proposed transaction.
Specifically, over the past eight months, Epicor stock increased
over 75% from $6.41 on August 13, 2010 to $11.24 on April 1, 2011.
Further, according to Yahoo Finance, analysts have set a median
target price of $13.00 per share, and one analyst has a target
price of $14.00 per share.
If you own stock in Epicor and wish to obtain additional
information about your rights, or if you have information regarding
the above investigation, please contact Jonathan M. Stein, Esq.
either via email at jstein@jonathansteinlaw.com or by telephone at
(561) 961-2244.
The Law Office of Jonathan M. Stein, P.L. represents
shareholders and consumers in complex litigation, including class
action and derivative litigation. More information about the firm
is available through its website, www.jonathansteinlaw.com, and
upon request from the firm. Jonathan M. Stein is the attorney
responsible for the content of this release.
Jonathan M. Stein, Esq. Law Office of Jonathan M. Stein, P.L. 120
E. Palmetto Park Rd., Suite 420 Boca Raton, FL 33432 (561) 961-2244
jstein@jonathansteinlaw.com
www.jonathansteinlaw.com
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