Kendall Law Group, led by former federal judge Joe Kendall, is investigating TechTeam Global, Inc. (NASDAQ: TEAM) for shareholders in connection with the proposed acquisition by an affiliate of Stefanini International Holdings Ltd. The national securities firm’s investigation seeks to determine whether TechTeam and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a TechTeam shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On November 2, TechTeam announced the definitive merger agreement under which TechTeam would be acquired by an affiliate of Stefanini International Holdings Ltd., in a transaction valued at approximately $93.4 million. Under the terms of the agreement, TechTeam stockholders will receive $8.35 in cash for each share of TechTeam/TEAM common stock held. The offer represents a 16.8% premium over the closing price of TechTeam Global common stock on November 1, 2010. The firm believes the transaction may be undervaluing the company.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.