Transcend Services, Inc. Buyout Investigated By The Securities Attorneys At The Briscoe Law Firm And Powers Taylor, LLP
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Transcend Services, Inc. (“Transcend Services”) (NASDAQ: TRCR) to Nuance Communications, Inc. for shareholders. Under the proposed buyout transaction, Transcend Services shareholders will receive $29.50 in cash for each share of Transcend Services/TRCR stock owned, which is significantly less than the target price of $34.00 per share recently announced by analysts.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive merger agreement involves an all cash transaction with a total equity value of approximately $300 million. The deal is expected to close in the second half of Nuance Communication’s 2012 fiscal year.
The investigation centers on whether Transcend Services shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Transcend Services stock, and whether Transcend Services’ board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Although the acquisition price represents an approximate 30% premium over the company’s 90-day volume weighted average share price, Transcend Services shares closed above the purchase price as recently as August 3, 2011. Further, according to Yahoo! Finance, at least one analyst has reported that the true inherent value of Transcend Services shares may be as high as $34.00 per share. According to shareholder rights attorney Willie Briscoe, “Based on recent positive revenue growth by Transcend Services, including a reported 22% revenue growth for the fourth quarter of year 2011, Transcend Services appears headed for significant growth that is not calculated into this buyout. Our proposed shareholder lawsuit seeks to obtain additional value for shareholders than what is proposed in the current buyout offer."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV