NEW YORK, Oct. 11, 2011 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of BigBand
Networks ("BigBand" or the "Company") (NASDAQ: BBND) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to ARRIS Group, Inc.
(NASDAQ: ARRS). Under the terms of the transaction, BigBand
shareholders will receive $2.24 per
share of BigBand stock they own. The transaction values the deal at
approximately $172 million, or
$53 million net of estimated BigBand
cash on hand. Shareholders holding 32% of the outstanding
shares of BigBand have agreed to tender their shares in the
offer.
Click here to learn more about the investigation:
http://www.zlk.com/bigband-networks-bbnd, or call:
877-363-5972.
The investigation concerns whether the BigBand Board of
Directors breached their fiduciary duties to BigBand stockholders
by failing to adequately shop the Company before entering into this
transaction and whether ARRIS Group, Inc. is underpaying for
BigBand shares, thus unlawfully harming BigBand stockholders.
In particular, shares of BigBand traded as high as
$2.62 per share as recently as
April 29, 2011. Further, the
median price target set by analysts for BigBand stock is
$2.60 per share with at least one
analyst setting a price target of $2.75 per share.
If you own common stock in BigBand and wish to obtain additional
information, please contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com or by telephone at
(212) 363-7500, toll-free: (877) 363-5972, or visit
http://www.zlk.com.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information,
please feel free to contact any of the attorneys listed below.
Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP