NEW YORK, March 12, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Quest Software, Inc. ("Quest" or the "Company") (NASDAQ: QSFT) concerning the Company's agreement to be purchased by Quest's CEO, Vinny Smith, and Insight Venture Partners ("Insight") in a transaction valued at approximately $2 billion.
On March 9, 2012, it was announced that pursuant to the agreement, Smith and Insight will acquire the outstanding shares of Quest. Under the agreement, Smith will continue to run the Company and Quest shareholders will receive $23.00 per share held. Quest shares are currently trading above $23.00. At least one analyst has set a target price for Quest stock of $29.00.
Our investigation concerns whether the board of directors is fulfilling its fiduciary duties, maximizing the value of Quest, disclosing all material benefits and costs and obtaining full and fair consideration for Quest shareholders.
If you own Quest shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Email: [email protected]
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP