NEW YORK, July 29, 2016 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Epiq Systems, Inc.
("EPIQ" or the "Company") in connection with the proposed
acquisition of the Company by OMERS Private Equity and funds
managed Harvest Partners L.P. (the "Affiliates"). On
July 26, 2016, the Company announced
that it had reached a definitive agreement for the Affiliates to
acquire all outstanding shares of EPIQ in a transaction valued at
approximately $1.0 billion, inclusive
of debt. Under the terms of the agreement, EPIQ shareholders
will receive $16.50 in cash for each
EPIQ share they own.
WeissLaw is investigating whether EPIQ's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the offer price is lower than the Company's 52-week high
of $16.83. Additionally, in May
EPIQ announced positive financial results for the first quarter of
2016. It reported quarterly consolidated operating revenue of
$131.5 million, reflecting a 22%
year-over-year increase when compared to the $107.8 million reported in the same period of the
previous year. EPIQ also announced a 28% growth in adjusted
net income, from $5.7 million in the
first quarter of 2015 to $7.3 million
in the following year.
Given these facts, WeissLaw is investigating whether EPIQ's
Board acted in the best interests of EPIQ's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own EPIQ shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP 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 clients and obtained important corporate governance
relief in many of 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 materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP