The Law Firm Of Weiss & Lurie Investigates Transcend Services, Inc.
Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Transcend Services, Inc. (NASDAQ: TRCR) arising from its agreement for Transcend to be acquired by Nuance Communications, Inc. (NASDAQ: NUAN) for $29.50 per share through a tender offer process expected to commence on or before March 20, 2012. The transaction is expected to close during the second half of 2012, subject to customary conditions.
Weiss & Lurie is investigating whether Transcend’s Board acted in the best interests of shareholders in approving this deal. The Company’s stock traded above the offer price as recently as August 2011. At least one analyst set the target price for Transcend stock at $30.00 per share just prior to the deal. Indeed, the Company recently reported record sales, a 42% increase in operating income, and 33% increase in revenue in 2011 as compared to 2010.
The Board may have approved the deal to further the interests of insiders. Key members of Transcend’s management, including its president and CEO Susan McGrogan and its CFO Lance Cornell are expected to play integral roles at Nuance upon consummation of the merger.
If you own Transcend shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at firstname.lastname@example.org or by telephone at (888) 593-4771.Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.
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