NEW YORK, March 9, 2012 /PRNewswire/ -- Wolf Popper
LLP, a leading national securities law firm, notifies investors of
Quest Software, Inc. (NASDAQ: QSFT) ("Quest") of potential claims
for breaches of fiduciary duty and other violations of state law
against the board of directors of Quest in connection with its
acquisition by Insight Venture Partners ("Insight") and Quest's
Chairman and CEO, Vinny Smith.
It was announced on March 9, 2012
that Quest has entered into definitive agreements with affiliates
of Insight. Under the terms of the agreements, Insight will
acquire all of the outstanding shares of Quest owned by
stockholders not affiliated with the buyout group for $23.00 per share in cash. Quest Chairman
and CEO Vinny Smith has agreed to
roll over his Quest shares and restricted stock units into the
newly created private Company. Smith will continue to lead
the company after the close of the transaction.
The investigation concerns whether the Quest Board of Directors
breached their fiduciary duties to stockholders by failing to
adequately shop the company before entering into this transaction
and whether Insight is underpaying for Quest shares, thus
unlawfully harming stockholders. Indeed, at least one analyst
has set a target price on Quest stock of as high as $29.00 per share.
If you own Quest common stock and you with to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact Joshua Ruthizer, Wolf Popper LLP, 845 Third
Avenue, New York, New York, 10022,
Toll Free: 877-370-7703, Email: jruthizer@wolfpopper.com.
Wolf Popper LLP is a prominent, nationally recognized law firm
experienced in the fields of Securities Litigation, Consumer Fraud,
ERISA, Antitrust, Health Care Litigation, Corporate and Commercial
Law and Corporate Transactional/Derivative Litigation. As a
leader in protecting the interests of defrauded investors and
consumers, the firm has prosecuted thousands of actions under
federal and state laws throughout the
United States. In business for 65 years, Wolf Popper has recovered billions of dollars
for investors. See www.wolfpopper.com.
SOURCE Wolf Popper LLP