Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Symyx Technologies, Inc. (“Symyx” or the “Company”) (Nasdaq:SMMX) relating to the proposed acquisition of Symyx by Accelrys, Inc. Under the terms of the agreement, Symyx shareholders would receive 0.7802 of Accelrys stock for each share of Symyx common stock they own. Based upon the prior closing price of Accelrys shares, the proposed transaction values Symyx stock at approximately $5.07 per share.
The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Symyx board’s approval of the proposed transaction. The transaction appears to be unfair, in part, given that Symyx stock was trading at $6.98 a share as recently as August 21, 2009 and traded at $5.54 a share on April 7, 2010. The Symyx board of directors agreed to a “no solicitation” provision and to a $7.5 million termination fee that may prevent superior offers.
If you own shares of Symyx 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 firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.