Law Offices of Howard G. Smith Announces Investigation of Blackboard, Inc.
2011年7月2日 - 8:30AM
ビジネスワイヤ(英語)
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the Board of Directors of
Blackboard Inc. (“Blackboard” or the “Company”) (NasdaqGS:BBBB)
related to the Company’s agreement to be acquired by affiliates of
Providence Equity Partners in a proposed transaction where
Blackboard shareholders will receive $45.00 per share in cash for
each share they own of the Company’s common stock. The transaction
is valued at approximately $1.64 billion.
The investigation concerns whether the Board of Directors of
Blackboard breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into the proposed transaction, and whether the Company has
disclosed all material information to shareholders about the
transaction. Blackboard has experienced recent positive financial
results. For example, total revenue for first quarter 2011 at the
Company was $118.8 million, an increase of 18% over first quarter
2010. Further, several analysts have set a target price of over
$50.00 per share, virtually nullifying any premium that Blackboard
shareholders would receive under the transaction.
If you are a shareholder of Blackboard, if you have information
or would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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