Kendall Law Group Investigates Art Technology Group Inc. Acquisition for Shareholders
02 Novembre 2010 - 4:20PM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Art Technology Group Inc. (NASDAQ: ARTG) for
shareholders in connection with the proposed acquisition by Oracle
Corporation. The national securities firm’s investigation seeks to
determine whether Art Technology Group and its Board breached their
fiduciary duties by entering into the agreement without properly
shopping for a deal that would provide better value for
shareholders. If you are an Art Technology Group shareholder and
would like additional information about your rights, contact the
Kendall Law Group at 877-744-3728 or by email at
skendall@kendalllawgroup.com.
On November 2, 2010, the companies announced the definitive
merger agreement under which Art Technology Group would be acquired
by Oracle, in a transaction valued at approximately $1 billion.
Under the terms of the agreement, Art Technology Group stockholders
will receive $6.00 in cash for each share of Art Technology
Group/ARTG common stock held. Included in the merger agreement is a
$33,500,000 termination fee. Additionally, Art Technology Group
reported increased third-quarter profit on higher revenue
attributed to increased demand. Due to these factors, the firm
believes the transaction may be undervaluing the company.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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