SHAREHOLDER ALERT: Brower Piven Announces the Investigation of MICROS Systems, Inc. in Connection with the Proposed Sale of the Company to Oracle Corp.
STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of MICROS Systems, Inc. (“MICROS” or the “Company”) (Nasdaq: MCRS) and other violations of state law by the board of directors of MICROS relating to the proposed buyout of the Company by Oracle Corp. (“Oracle”).
On June 23, 2014, MICROS and Oracle announced the signing of a definitive merger agreement pursuant to which Oracle will acquire MICROS in a merger valued at approximately $5.3 billion. Under the terms of the transaction, the Company’s shareholders will receive $68.00 per share in cash in exchange for each share of MICROS stock they own.
The consideration that MICROS shareholders are expected to receive does not appear to offer a premium based on price targets set by a Yahoo! Finance analyst who recently set a price target of $68.00 per share, the same consideration MICROS shareholders are expected to receive.
The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Oracle is underpaying for MICROS shares.
If you currently own common stock of MICROS and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.