Law Office of Brodsky & Smith, LLC Announces Investigation of Phase Forward Incorporated
21 Avril 2010 - 5:01PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Phase Forward Incorporated (“Phase Forward” or the “Company”)
(Nasdaq: PFWD) relating to the proposed acquisition of Phase
Forward by Oracle Corporation. Under the terms of the agreement,
Phase Forward shareholders would receive $17 for each share of
Phase Forward common stock they own.
The investigation concerns possible breaches of fiduciary duty
and other violations of state law related to the Phase Forward
board’s approval of the proposed transaction. The transaction
appears to be unfair, in part, given that Phase Forward stock was
trading at $17.04 a share as recently as November 17, 2009 and an
analyst placed a price target on Phase Forward at $18.00 a
share.
If you own shares of Phase Forward and wish to discuss the legal
ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, or by calling toll free
877-LEGAL-90.
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