Novell, Inc. Merger Litigation (Nasdaq: NOVL)
Law Office of Brodsky & Smith, LLC Announces Investigation of Novell, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors Novell, Inc. (“Novell”) or the “Company”) (Nasdaq: NOVL – News) relating to the proposed acquisition by Attachmate Corporation (“Attachmate”).
Under the terms of the transaction, Novell shareholders would receive cash of $6.10 for each share of Novell stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law. The transaction appears to be unfair, in part, given that Novell traded at $6.51 a share as recently as September 22, 2010 and an analyst set a price target for Novell at $7.50 per share. In addition, in March of this year, Novell rejected a $2 billion takeover offer from shareholder Elliott Associates LP as inadequate. Thus, shareholders need additional information to know if Attachmate is underpaying for the company.
If you own shares of Novell 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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