SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of Actuate Corporation (NASDAQ: BIRT) breached their fiduciary duties in connection with the planned merger of the Company with OpenText Corporation. Actuate provides software solutions and services to corporate and government customers worldwide.
On December 5, 2014, Actuate and OpenText announced that they had entered into a definitive merger agreement. Under the terms of the merger agreement, an affiliate of OpenText will commence a tender offer to the Actuate stockholders to purchase any and all shares of common stock they hold for $6.60 in cash per share
Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed $6.60 per share deal price represents adequate consideration, especially given the Company’s strong balance sheet and the $7.00 price target one Wall Street analyst has on the stock.
If you are an Actuate shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.