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Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Blue Coat Systems, Inc. (“Blue Coat” or the “Company”) (Nasdaq:
BCSI) 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 an investor group led by Thoma Bravo, LLC (“Thoma Bravo”) in a transaction with an approximate value of $1.3 billion.
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Under the proposed agreement, the investor group led by Thoma Bravo will acquire all of the outstanding shares of Blue Coat for $25.81 per share in cash.
The investigation concerns whether Blue Coat’s board of directors adequately shopped the Company to obtain the best price possible for Blue Coat’s shareholders before entering into the agreement with the investor group led by Thoma Bravo. Indeed, according to Yahoo! Finance, at least one analyst has issued a $28.00 per share price target for Blue Coat stock.
If you own the common stock of Blue Coat and purchased your shares before December 9, 2011, 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 19801, by telephone at (888) 969-4242, or by e-mail to
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.