Bernstein Liebhard LLP Announces Investigation of Acquisition of RiskMetrics Group By MCSI
01 Marzo 2010 - 11:58PM
Business Wire
Bernstein Liebhard LLP is investigating whether the Board of
Directors of RiskMetrics Group, Inc. (“RiskMetrics”) (NYSE: RISK)
breached its fiduciary duty to its shareholders in agreeing to sell
RiskMetrics to MCSI, Inc. (“MCSI”).
On March 1, 2010, MCSI and RiskMetrics jointly announced that
they have entered into a definitive merger agreement whereby MCSI
will acquire RiskMetrics in a cash and stock transaction valued at
$21.75 per share based on MCSI’s closing price on Friday, February
26, 2010. MCSI’s offer consists of $16.35 in cash and 0.1802 shares
of MCSI per share of RiskMetrics.
The investigation concerns whether the RiskMetrics Board of
Directors breached their fiduciary duties to RiskMetrics
stockholders by failing to adequately shop RiskMetrics before
entering into the merger agreement, and whether MCSI is underpaying
for RiskMetrics shares, thus harming RiskMetrics stockholders.
Further, Ethan Berman, the Chief Executive Officer of RiskMetrics
Group, and certain other RiskMetrics shareholders, have entered
into a voting agreement with MCSI pursuant to which they have
agreed to vote, in the aggregate, the majority – approximately 54%
– of the outstanding RiskMetrics shares in favor of this
transaction.
If you are interested in discussing your rights as a RiskMetrics
shareholder and/or have information relating to the matter, please
contact U. Seth Ottensoser at (877) 779-1414 or
Ottensoser@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities and
consumer cases and recovered approximately $2 billion for its
clients. It has been named to The National Law Journal’s
“Plaintiffs’ Hot List” in each of the last seven years.
Bernstein Liebhard LLP 10 East 40th Street New York, New York 10016
(877) 779-1414
www.bernlieb.com
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