Murray, Frank & Sailer LLP Investigates Breaches of Fiduciary Duty Regarding Acquisition of Epicor Software Corp. by Apax Par...
April 04 2011 - 5:43PM
Business Wire
Murray, Frank & Sailer LLP is investigating claims of breach
of fiduciary duty by certain members of the board of directors of
Epicor Software Corporation (NASDAQ:EPIC) (“Epicor” or the
“Company”) in relation to the acquisition of the Company by private
equity firm Apax Partners LLP (“Apax”).
On April 4, 2011, Epicor and Apax announced that Apax will
acquire Epicor pursuant to a transaction under which Epicor
stockholders will receive $12.50 in cash in exchange for each share
of Epicor common stock, an aggregate value of approximately $976
million. The amount represents a premium of approximately 11% over
the closing price of the stock on April 1, 2011.
The investigation concerns whether certain members of the board
of directors breached their fiduciary duty in connection with their
efforts to sell Epicor to Apax at an inadequate price through an
unfair process which significantly undervalues the Company.
If you are a current investor in Epicor, who purchased EPIC
shares before April 4, 2011, and you wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests with respect to these matters, please contact
Bridget Hamill or Katherine Smith at (800) 497-8076 or (212)
682-1818, or by email at investigations@murrayfrank.com.
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