Kendall Law Group Investigates Ness Technologies Inc.
June 13 2011 - 11:15AM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Ness Technologies Inc. (NasdaqGS: NSTC) (“Ness”) for
shareholders in connection with the proposed acquisition of the
company by Citi Venture Capital International (“Citi”). The
national securities firm’s investigation seeks to determine whether
Ness and its Board breached their fiduciary duties by entering into
the agreement without properly shopping for a deal that would
provide the best value for shareholders. If you are a Ness
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.
On June 13, 2011, the companies announced the definitive merger
agreement under which Ness would be acquired by Citi, in a
transaction valued at approximately $307 million. Under the terms
of the agreement, Ness stockholders will receive $7.75 in cash for
each share they own. The offer represents approximately 16% premium
over the closing price of Ness on June 10, 2011. The firm’s
investigation seeks to determine whether Ness and its Board
undertook a fair process in negotiating the deal.
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 numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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