Block & Leviton LLP Investigates Blue Coat Systems, Inc.'s Board Of Directors For Possible Breaches Of Fiduciary Duty
BOSTON, Dec. 9, 2011 /PRNewswire/ -- Block & Leviton LLP ( www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duties by the Board of Directors of Blue Coat Systems, Inc. ("Blue Coat" or the "Company") (Nasdaq: BCSI) with regards to the proposed acquisition of the Company by an investor group headed by Thoma Bravo LLC. The transaction is for $25.81 per share, or a net purchase price of $1.3 billion.
Block & Leviton's investigation seeks to determine, among other things, whether Blue Coat's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed transaction. Blue Coat's stock has traded significantly higher than the offer price, reaching the low $30 range as recently as February 2011. Moreover, the offer price represents only a 14 percent premium over Blue Coat's average daily share price over the last year.
If you are a Blue Coat shareholder and have questions about your legal rights, please contact Block & Leviton at (617) 398-5600 or email us at email@example.com.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 40 years.This notice may constitute attorney advertising. SOURCE Block & Leviton LLP
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