Murray, Frank & Sailer LLP is investigating claims of breach of fiduciary duty by certain members of the board of directors of Epicor Software Corporation (NASDAQ:EPIC) (“Epicor” or the “Company”) in relation to the acquisition of the Company by private equity firm Apax Partners LLP (“Apax”). On April 4, 2011, Epicor and Apax announced that Apax will acquire Epicor pursuant to a transaction under which Epicor stockholders will receive $12.50 in cash in exchange for each share of Epicor common stock, an aggregate value of approximately $976 million. The amount represents a premium of approximately 11% over the closing price of the stock on April 1, 2011. The investigation concerns whether certain members of the board of directors breached their fiduciary duty in connection with their efforts to sell Epicor to Apax at an inadequate price through an unfair process which significantly undervalues the Company. If you are a current investor in Epicor, who purchased EPIC shares before April 4, 2011, and you wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Bridget Hamill or Katherine Smith at (800) 497-8076 or (212) 682-1818, or by email at email@example.com.
Epicor Software Corporation (Nasdaq:EPIC) hit a new 52-week high Monday as it changed hands at $12.49 compared with its previous 52-week high of $11.40. Epicor Software is currently trading at $12.48 with 4.1 million shares changing hands as of 9:31 a.m.