The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of BigBand Networks, Inc.
13 10월 2011 - 3:19AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of BigBand Networks, Inc. (“BigBand”
or BBND”) (NASDAQ: BBND) to ARRIS Group, Inc. for shareholders.
Under the proposed buyout, BigBand shareholders will receive $2.24
in cash for each share of BigBand/BBND stock owned, which is well
below the target price of $2.75 per share recently announced by
analysts.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive acquisition agreement involves an all cash
transaction valued at approximately $172 million, or $53 million
net of BigBand cash on hand. Under the terms of the acquisition, a
tender offer will be commenced within ten business days of October
11, 2011, when the merger was announced. The transaction is
expected to be completed in late 2011.
“We are investigating the fairness of the proposed transaction
to BigBand shareholders, whether the shareholders are being
underpaid for their stock, and whether BigBand’s Board of Directors
acted in the shareholders’ best interest,” said shareholder rights
attorney Willie Briscoe. In particular, BigBand’s stock traded at
$2.62 per share as recently as April 29, 2011, and at least one
analyst has set a target price of $2.75 per share for BigBand
stock. “Based on these and other factors, we believe that the
transaction may significantly undervalue BigBand stock,” said
Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
Bigband Networks (MM) (NASDAQ:BBND)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Bigband Networks (MM) (NASDAQ:BBND)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024