Rigrodsky & Long, P.A. Investigates Syniverse Technologies Buyout
28 Octobre 2010 - 6:08PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Syniverse
Technologies (“Syniverse” or the “Company”) (NYSE:SVR) concerning
possible breaches of fiduciary duty and other violations of law
related to the Company’s entry into an agreement to be acquired and
taken private by The Carlyle Group (“Carlyle”) in a transaction
valued at approximately $2.6 billion. Click here to learn how to
join the action:
http://www.rigrodskylong.com/news/SyniverseTechnologies-SVR.
Under the proposed agreement, Carlyle will acquire all of the
outstanding common shares of Syniverse for $31.00 per share in
cash. The investigation concerns whether Syniverse’s board of
directors failed to adequately shop the Company and obtain the best
price possible for Syniverse’s shareholders before entering into
the agreement with Carlyle.
As recent as August 2, 2010, Syniverse issued its second quarter
2010 financial results wherein the Company reported a 39.9%
increase in total revenue compared to the same period in 2009, a
40.9% increase in net revenue compared to the same period in 2009,
and a 35.6% increase in net income compared to the same period in
2009. Tony Holcombe, Syniverse’s President and CEO, commented:
“Strong organic growth fueled by sales to new and existing
customers, plus a renewal rate of 99%, led us to increase full-year
guidance to reflect our market momentum.”
If you own the common stock of Syniverse and purchased your
shares before October 28, 2010, 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 Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case
Development Director, of Rigrodsky & Long, P.A., 919 N. Market
Street, Suite 980, Wilmington, Delaware, by telephone at (888)
969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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