WAYNE, Pa., Sept. 3, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP is investigating potential claims against the board of directors of Compuware Corporation ("Compuware" or the "Company") (NASDAQ: CPWR) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to Thoma Bravo, LLC ("Thoma Bravo") in a transaction valued at approximately $2.5 billion.
If you own shares of Compuware and would like to learn more about this class action or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/cpwr. You may also email Mr. Maniskas at firstname.lastname@example.org.
Under the terms of the agreement, Compuware shareholders will receive an aggregate value of approximately $10.92 per share. Thoma Bravo will pay a cash purchase price of $10.43 for each outstanding share of Compuware common stock, less the pro rata portion of the applicable corporate tax that will be owed in connection with the spin-off of Covisint, currently estimated at $0.18 per share based on the current market price of Covisint, for a net cash payment of approximately $10.25 per share. The parties have agreed that within 60 days following the date of the merger agreement, Compuware will effectuate the pro rata distribution to its shareholders of the remaining shares of Covisint owned by Compuware, resulting in a distribution of Covisint shares representing approximately $0.67 per share of Compuware common stock based on the closing price of Covisint on Friday, August 29.
Our investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Compuware for not acting in the Company's shareholders' best interests in connection with the sale process.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
SOURCE Ryan & Maniskas, LLP