SAN DIEGO, Oct. 23, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of BroadSoft, Inc. (NASDAQ: BSFT) ("BroadSoft ") breached their fiduciary duties in connection with the proposed sale of the Company to Cisco Systems, Inc. ("Cisco"). BroadSoft provides software and services that enable telecommunications service providers to deliver hosted cloud-based unified communications (UC) to their enterprise customers in North America, Europe, the Middle East, and Africa.
On October 23, 2017, BroadSoft announced that it had signed a definitive merger agreement with Cisco. Under the terms of the deal, Cisco will pay $55 for each BroadSoft share.
The investigation concerns whether the BroadSoft board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for BroadSoft shares of common stock. Given the Company's outlook for future revenue and earnings growth, and it's strong balance sheet, nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration
If you are a shareholder of BroadSoft and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP