Syniverse Technologies Shareholder Investigation by Briscoe Law Firm Regarding the Proposed Acquisition by The Carlyle Group
28 Ottobre 2010 - 8:01PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Syniverse Technologies (“Syniverse” or “SVR”) (NYSE: SVR)
related to the proposed acquisition of Syniverse by the private
equity firm The Carlyle Group.
The definitive merger agreement, which was announced on October
28, 2010, involves a going private transaction valued at
approximately $2.6 billion under which Syniverse shareholders will
receive only $31.00 in cash per share of common stock held. The
proposed acquisition price represents an approximate 30% over
Syniverse’s closing price the day before the merger announcement.
However, based on the company’s increase in net and total revenue
reported in Syniverse’s second quarter 2010 financial reports,
compared to the same period in 2009, and Syniverse’s historic stock
price, the firm believes that the proposed transaction may
undervalue Syniverse/SVR shares and not be fair to the
shareholders.
This investigation relates to possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
Syniverse Technologies for approving this transaction and whether
Syniverse Technologies’ Board of Directors acted in the
shareholders’ best interests.
If you currently own shares of Syniverse Technologies/SVR and
would like additional information regarding this investigation, or
if you have information regarding the allegations involving this
transaction, please contact Patrick Powers at Powers Taylor, LLP,
toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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