BALA CYNWYD, Pa., March 8, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Transcend Services, Inc. (NASDAQ- Transcend) relating to the proposed acquisition by Nuance Communications, Inc. ("Nuance").
Under the terms of the transaction, Transcend shareholders would receive only $29.50 in cash for each share of Transcend stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Transcend for not acting in the Company's shareholders' best interests in connection with the sale process to Nuance. The transaction may undervalue Transcend as Transcend stock traded at $29.92 on July 6, 2011 and an analyst has set a price target on Transcend stock at $34.00 per share.
If you own shares of Transcend stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, visiting http://brodsky-smith.com/392-trcr-transcend-services-inc.html, or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC