BigBand Networks, Inc. Merger Litigation (Nasdaq: BBND)
Law Office of Brodsky & Smith, LLC Announces Investigation of BigBand Networks, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of BigBand Networks, Inc. (“BigBand” or the “Company”) (Nasdaq – BBND- News) relating to the proposed acquisition by Arris Group, Inc.
Under the terms of the proposed transaction BigBand shareholders would receive $2.24 in cash for each share of BigBand stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of BigBand for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as BigBand stock traded at $2.81 on January 6, 2011, and traded at $2.56 as recently as April 29, 2011 Further, an analyst has set a price target of $2.75 for each share of BigBand stock.
If you own shares of BigBand 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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