Ness Technologies, Inc. Merger Litigation (Nasdaq: NSTC)
Law Office of Brodsky & Smith, LLC Announces Investigation of Ness Technologies, Inc.
BALA CYNWYD – (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 - News) 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 firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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