DemandTec, Inc. Merger Litigation (Nasdaq: DMAN)
Law Office of Brodsky & Smith, LLC Announces Investigation of DemandTec, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of DemandTec, Inc. (“DemandTec” or the “Company”) (Nasdaq - DMAN- News) relating to the proposed acquisition by International Business Machines Corp. (“IBM”).
Under the terms of the transaction DemandTec shareholders would receive $13.20 in cash for each share of DemandTec stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of DemandTec for not acting in the Company’s shareholders' best interests in connection with the sale process to IBM. The transaction may undervalue DemandTec as DemandTec stock traded at $14.07 as recently as February 14, 2011. In addition, both the CEO and COO have signed offer letters with IBM as part of the deal. This along with a $14 million termination fee makes it unlikely that a superior offer will be forthcoming.
If you own shares of DemandTec 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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