A law office recently announced that it is looking into potential law violations by the board of directors of a biochemical software company after an agreed-to acquisition. It is possible that this action could become a class action lawsuit.
Law firm Rigrodsky and Long, P.A., began an investigation of the Accelrys, Inc., board of directors after the company noted it was to be purchased by Dassault Systemes SA. If approved, the transaction's value would be approximately $750 million, though shareholders of Accelrys would earn just $12.50 per share in cash for each of the current shares they hold.
Shareholders allege that the company may have breached fiduciary duties, as well as violated multiple securities laws due to the agreement. Also, it is possible the Accelrys board of directors did not leave the company on the market for long enough to get the most value for shareholders before they made the proposed transaction. One reason for this is an analyst from Yahoo! Finance put a valuation of the company to approximately $13 per share.
It is possible for some shareholders to help out the investigation, and anyone with information is encouraged to speak with the firm. Those who purchased stock before Jan. 30, 2014, can learn more about the investigation by contacting the law office, as well. The best people to speak with are Seth Rigrodsky and Gina Serra, and they can be reached by email or phone. It is also possible to visit the law offices website to get more information.
Second investigation underway
Another law office recently announced it would investigate the purchase on behalf of Accelrys shareholders. Like the previously mentioned action, this also could become a class action claim in the future.
Brodsky and Smith, LLC, noted it is seeking to answer questions from shareholders about the proposed transaction, especially regarding whether or not the company violated state law or breached fiduciary duty by agreeing to the purchase by Dassault Systemes. Not only may the deal have been undervalued, but Dassault Systemes also would have access to Accelrys software and its client list.
Shareholders also have the option of speaking with this law firm to gain more information about the process. This can include any questions or even how this will affect shareholders legally. Both Jason Brodsky and Evan Smith are available to be reached by email or telephone, while visiting the website is also a possibility.