Tech Data (NASDAQ:TECD)
Historical Stock Chart
3 Months : From Oct 2019 to Jan 2020
NEW YORK, Nov. 19, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Tech Data Corp. ("TECD" or the "Company") (NASDAQ: TECD) in connection with the proposed acquisition of the Company by Apollo Global Management ("Apollo") (NYSE: APO). Under the terms of the acquisition agreement, TECD shareholders will receive $130.00 for each TECD share they own.
If you own TECD shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether TECD's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, the per-share offer price represents a meager 4% premium over TECD's November 12 trading price of $125.41. In addition, the Company announced positive financial results for the second quarter of 2020. It reported American net sales of $4.3 billion, representing an increase of 7% when compared to the figures reported in the previous period.
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP