Phase Forward inc. Merger Litigation
Law Office of Brodsky & Smith, LLC Announces Investigation of Phase Forward Incorporated
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Phase Forward Incorporated (“Phase Forward” or the “Company”) (Nasdaq: PFWD – News) relating to the proposed acquisition of Phase Forward by Oracle Corporation. Under the terms of the agreement, Phase Forward shareholders would receive $17 for each share of Phase Forward common stock they own.
The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Phase Forward board’s approval of the proposed transaction. The transaction appears to be unfair, in part, given that Phase Forward stock was trading at $17.04 a share as recently as November 17, 2009 and an analyst placed a price target on Phase Forward at $18.00 a share.
If you own shares of Phase Forward 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 firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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