NEW YORK, May 28, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Rally Software Development Corporation ("Rally" or the "Company") (NYSE: RALY) for potential breaches of fiduciary duties in connection with the sale of the Company to CA Technologies for approximately $480 million. The Company's stockholders will only receive $19.50 for each share of Rally common stock they own. However, at least one analyst has set a price target of $24.00 for Rally's stock price. Moreover, Rally has traded significantly higher than the offering price over the past two-year period.
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The investigation focuses on whether Rally's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Rally's shareholders.
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If you own common stock in Rally and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/RALY or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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