NEW YORK, April 28, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of iGate Corporation ("IGTE" or the "Company") by Cap Gemini S.A. ("Cap Gemini") 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 IGTE for agreeing to sell the Company to Cap Gemini. On April 27, 2015, the Company announced a definitive agreement for Cap Gemini to acquire IGTE in a transaction valued at $4.04 billion. Under the terms of the agreement, IGTE shareholders will receive $48 in cash for each IGTE share they own.
WeissLaw is investigating whether IGTE's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the offer price represents a premium of less 5% over the Company stock's April 24, 2015 trading price of $45.93. Additionally, prior to announcement, at least one analyst set a target price of $55.00 per IGTE share, or $7.00 above the offer price.
Given these facts, WeissLaw is investigating whether IGTE's Board acted in the best interests of IGTE's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Cap Gemini. If you own IGTE 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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SOURCE WeissLaw LLP