BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Actuate Corporation ("Actuate" or "the Company") (Nasdaq: BIRT) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Open-Text Corporation.
Click here to learn more about the investigation http://brodsky-smith.com/864-birt-actuate-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Actuate shareholders will receive $6.60 in cash for each share of Actuate stock they own. The investigation concerns whether the Board of Actuate Corporation breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Open-Text Corporation is underpaying for Actuate shares. The transaction may undervalue Actuate and will result in a loss for many Actuate shareholders as BIRT stock traded at $7.91 per share on January 17, 2014 and an analyst set a price target for Actuate stock at $7.00 per share.
If you own shares of Actuate common stock and wish to discuss the legal ramifications of the investigation, 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 510, Bala Cynwyd, PA 19004, by e-mail at email@example.com, by visiting http://brodsky-smith.com/864-birt-actuate-corporation.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.