Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/cmvt) is investigating potential claims against the board of directors of Comverse Technology Inc. (“Comverse Technology” or the “Company”) (NASDAQ: CMVT) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell Comverse Technology to its majority owned subsidiary, Verint Systems Inc. (“Verint”). Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Comverse Technology. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com or visit: www.rmclasslaw.com/cases/cmvt. Under the terms of the proposal, a newly formed wholly-owned subsidiary of Verint will acquire Comverse Technology, and Verint will issue new Verint common shares to Comverse Technology shareholders, in an amount equal to approximately 27.5 million Verint common shares plus up to an additional $25 million in Verint common shares. If you own shares of Comverse Technology and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/cmvt. You may also email Mr. Maniskas at firstname.lastname@example.org. For more information about class action cases in general, please visit our website: www.rmclasslaw.com. Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
Shares of Comverse Technology (Nasdaq:CMVT) were gapping down Thursday morning with an open price 10.7% lower than Wednesday's closing price. The stock closed at $6.07 yesterday and opened today's trading at $5.42.