NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Blackboard Inc. (NASDAQ: BBBB) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to an investor group led by affiliates of Providence Equity Partners. Under the terms of the proposed deal, Blackboard stockholders will receive $45.00 per share in cash. The transaction has a total value of approximately $1.64 billion, plus the assumption of approximately $130 million in net debt.
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The investigation concerns whether the Blackboard Board of Directors breached their fiduciary duties to Blackboard stockholders by failing to adequately shop the Company before entering into this transaction and whether Providence Equity Partners is underpaying for Blackboard shares. According to Thomson/First Call, at least one analyst set a price target for Blackboard stock at $55.00 per share.
If you own common stock in Blackboard and wish to obtain additional information, please contact Vincent Wong, Esq. either via email email@example.com, by telephone at 212.584.2740, or visit http://www.wongesq.com/blackboard-bbbb.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.