Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Savvis Inc. (NASDAQ:SVVS) arising from its proposed acquisition by CenturyLink, Inc. (NYSE:CTL).
Under the terms of the transaction, Savvis stockholders will receive $30.00 cash and $10 of stock, for each Savvis share.
Weiss & Lurie is investigating whether Savvis’ Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. Of particular concern is whether Savvis insiders are benefiting from the transaction to the detriment of shareholders. Upon the completion of the merger, CenturyLink anticipates integrating its hosting business and Savvis’ managed hosting and cloud services into a single business unit, led by key members of Savvis management and headed by Savvis CEO James Ousley. Additionally, at least one analyst set a price target for Savvis stock at $46.
If you own Savvis shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at email@example.com or by telephone at (888) 593-4771.Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.