Blue Coat Systems, Inc. Merger Litigation (Nasdaq: BCSI)
Law Office of Brodsky & Smith, LLC Announces Investigation of Blue Coat Systems, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Blue Coat Systems, Inc. (“Blue Coat” or the “Company”) (Nasdaq - BCSI- News) relating to the proposed acquisition by an investor group lead by private equity investment firm Thoma Bravo, LLC. (“Thoma Bravo”).
Under the terms of the transaction, Blue Coat shareholders would receive $25.81 in cash for each share of Blue Coat stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Blue Coat for not acting in the Company’s shareholders' best interests in connection with the sale process to Thoma Bravo. The transaction may undervalue Blue Coat as Blue Coart stock traded at $28.08 as recently as August 29, 2011. In addition, an analyst has set a price target of $28.00 per share for Blue Coat stock.
If you own shares of Blue Coat 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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