Law Office of Brodsky & Smith, LLC Announces Investigation of Ness Technologies, Inc.
June 15 2011 - 11:57AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Ness Technologies, Inc (“Ness” or the “Company”) (Nasdaq – NSTC)
relating to the proposed acquisition by Citi Venture Capital
International (“Citi Venture Capital”).
Under the terms of the transaction, Ness shareholders would
receive $7.75 in cash for each share of Ness stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Ness by
not acting in Ness shareholders' best interests in connection with
the sale process to Citi Venture Capital. The transaction may
undervalue Ness based on the book value of Ness. In addition, an
analyst has placed an $8.00 price target on Ness stock.
If you own shares of Ness stock and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/299-nstc-ness-technologies-inc.html, or by
calling toll free 877-LEGAL-90.
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