STEVENSON, Md., May 28, 2015 /PRNewswire/ -- The securities
litigation law firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
Rally Software Development Corp. ("Rally" or the "Company") (NYSE:
RALY) relating to the proposed buyout of the Company by CA
Technologies.
Under the terms of the transaction, Rally shareholders are
anticipated to receive $19.50 in cash
for each share of Rally common stock held. The transaction
may undervalue Rally and may result in a substantial loss for many
shareholders. For example, according to Yahoo!
Finance, at least one Wall Street analyst has issued a price
target for Rally stock at $24.00 per
share. The firm's investigation seeks to determine, among
other things, whether the Company's Board of Directors failed to
satisfy their duties to shareholders, including whether the Board
adequately pursued alternatives to the acquisition and whether the
Board obtained the best price possible for the Company's shares of
common stock.
If you currently own common stock of Rally and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, please
visit our website at
http://www.browerpiven.com/currentinvestigations.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616 / hoffman@browerpiven.com
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SOURCE Brower Piven, A Professional Corporation