The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Ness Technologies, Inc. -- NSTC
June 10 2011 - 7:45PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Ness Technologies, Inc. (“Ness” or the “Company”) (NASDAQ: NSTC)
for possible breaches of fiduciary duty and other violations of
state law in connection with the sale of the Company to an
affiliate of Citi Venture Capital International. Under the terms of
the transaction, Ness stockholders will receive $7.75 per share in
cash for each share of common stock they own. The transaction has a
total value of approximately $307 million.
Click here to learn how to join the action:
http://www.zlk.com/ness-technologies-nstc.html, or call:
877-363-5972.
The investigation concerns whether the Ness Board of Directors
breached their fiduciary duties to Ness stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Citi Venture Capital International is underpaying for
Ness shares, thus unlawfully harming Ness stockholders. In
particular, the Book Value for Ness shares for the last quarter was
$9.34 per share, and at least one analyst placed a value of $8.00
per share of Ness stock.
If you own common stock in Ness and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit
http://www.zlk.com/ness-technologies-nstc.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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