Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors ("Board") of TechTeam Global, Inc. ("TechTeam" or the "Company") (Nasdaq: TEAM) in connection with their efforts to sell TechTeam to an affiliate of Stefanini International Holdings, Ltd. dba Stefanini IT Solutions ("Stefanini"), a privately held global provider of onshore and nearshore IT consulting, integration and development, and outsourcing services. The transaction will be accomplished through an all-cash tender offer and second-step merger. If the transaction is completed, TechTeam shareholders will receive $8.35 in cash for each share of TechTeam common stock they hold. The tender offer is scheduled to commence within ten business days and is expected to close during the fourth quarter of 2010.
Robbins Umeda LLP's investigation concerns whether TechTeam's Board undertook a fair process to obtain fair consideration for all TechTeam shareholders. Specifically, our investigation concerns whether members of the Company's Board breached their fiduciary duties to TechTeam shareholders by failing to adequately shop the Company before entering into the transaction with Stefanini.
If you are a shareholder of TechTeam, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.
Robbins Umeda LLP is a securities litigation firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.Advertisement