NEW YORK, March 9, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Transcend Services, Inc. ("Transcend" or the "Company") (Nasdaq: TRCR) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Nuance Communications, Inc. (Nasdaq: NUAN). Under the terms of the transaction, Transcend shareholders will receive $29.50 per Transcend share. The transaction has a total approximate value of $300 million.
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The investigation concerns whether the Transcend Board of Directors breached their fiduciary duties to Transcend stockholders by failing to adequately shop the Company before entering into this transaction and whether Nuance Communications, Inc. is underpaying for Transcend shares, thus unlawfully harming Transcend stockholders. In particular, at least one analyst set a price target of $34.00 per share of Transcend stock.
If you own common stock in Transcend and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP