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 and other violations of state law by the Board of Directors of ChyronHego Corporation (“ChyronHego” or the “Company”) (Nasdaq: CHYR) relating to the proposed buyout of the Company by Vector Capital (“Vector”).
On November 17, ChyronHego announced the signing of a definitive merger agreement pursuant to which an affiliate of Vector will acquire all of the outstanding shares of ChyronHego common stock in a transaction valued at approximately $114 million.
Under the terms of the transaction, ChyronHego shareholders are anticipated to receive $2.82 in cash for each share of ChyronHego common stock they own. The transaction is expected to close in the first quarter of fiscal 2015, though ChyronHego shareholders will most likely be asked to vote on the transaction well before that time.
The firm’s investigation seeks to determine, among other things, whether the Board of Directors of ChyronHego failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. In particular, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for ChyronHego stock at $4.00 per share.
If you currently own common stock of ChyronHego 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.