Advent Software, Inc. Acquisition By SS&C Technologies Holdings, Inc. Is The Subject Of A Legal Investigation By WeissLaw LLP
NEW YORK, Feb. 4, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Advent Software, Inc. ("ADVS" or the "Company") by SS&C Technologies Holdings, Inc. ("SS&C Technologies") is being investigated by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of ADVS for agreeing to sell the Company to SS&C Technologies. On February 3, 2015, the Company announced a definitive agreement for SS&C Technologies to acquire ADVS in a transaction valued at approximately $2.7 billion, inclusive of debt. Under the terms of the agreement, ADVS shareholders will receive $44.25 in cash for each share they own.
WeissLaw is investigating whether ADVS's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the $44.25 merger consideration represents a premium of only 5.7% based on ADVS's closing price on January 30, 2015. Further, at least one analyst has set a target price of $45.00 per share, or $0.75 above the price offered by SS&C Technologies.
Given these facts, WeissLaw is investigating whether ADVS's Board acted in the best interests of ADVS's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with SS&C Technologies. If you own ADVS shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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WeissLaw LLP
Joshua Rubin
Kelly Keenan
1500 Broadway, 16th Floor
New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslawllp.com
[email protected]
SOURCE WeissLaw LLP
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