Robbins Umeda LLP Announces an Investigation of Deltek, Inc.
28 Agosto 2012 - 2:57AM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of the law by members of the board of directors of
Deltek, Inc. (NASDAQ: PROJ) in connection with their efforts to
sell the company to Thoma Bravo, LLC. Concerned shareholders who
would like more information about their rights and potential
remedies can contact attorney Gregory E. Del Gaizo at (800)
350-6003, info@robbinsumeda.com, or via the shareholder information
form on the firm's website.
On August 27, 2012, Deltek announced that it had entered into a
definitive merger agreement to be acquired by Thoma Bravo.
According to the terms of the deal, Thoma Bravo will acquire Deltek
through an all cash transaction. Pursuant to the agreement, Deltek
shareholders will receive $13 in cash for each share of the company
they own. The transaction is expected to close in the fourth
quarter of 2012.
Robbins Umeda LLP's investigation focuses on whether the board
of directors at Deltek is undertaking a fair process to obtain
maximum value and adequately compensate its shareholders. For
example, on July 31, 2012, Deltek reported financial results for
the second quarter of 2012 that represented a substantial increase
over 2011 figures. Specifically, Deltek reported earnings per share
of $0.06, compared to a loss of $0.05 per share in the second
quarter of 2011. Additionally, Deltek reported a 15% increase in
product revenue for the second quarter of 2012 over the same
quarter in 2011. Furthermore, at least two leading market analysts
have released target prices for Deltek that value the company's
stock between $14 and $16 per share, higher than the value
currently being offered by Thoma Bravo as part of the proposed
transaction.
Robbins Umeda LLP attorneys highlight that Deltek shareholders
have the option to file a class action lawsuit against the company
to secure the best possible price for the company's shareholders
and the disclosure of material information to shareholders so they
can vote on the transaction in an informed manner.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/deltek-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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