Robbins Umeda LLP Announces an Investigation of EasyLink Services International Corporation
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 EasyLink Services International Corporation (NASDAQ: ESIC) in connection with their efforts to sell the company to OpenText Corporation (TSX: OTC). Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
On May 1, 2012, EasyLink announced that it had entered into a definitive merger agreement to be acquired by OpenText. According to the terms of the deal, OpenText will acquire all outstanding shares of EasyLink through an all-cash transaction. Pursuant to the agreement, EasyLink shareholders will receive $7.25 for each share of the company they own. The transaction is expected to close in mid to late summer 2012.
Robbins Umeda LLP’s investigation focuses on whether EasyLink’s board is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company’s recent positive financial results. On March 12, 2012, EasyLink reported financial results for the second quarter of 2012 that represented substantial increases over 2011 figures. Specifically, the company reported that net income for the quarter increased by 190% to $2.9 million. Additionally, at least one leading market analyst released a target price for EasyLink of $8.00 per share, substantially above the price offered by OpenText.
Robbins Umeda LLP attorneys highlight that EasyLink 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.
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