SHAREHOLDER ALERT: Brower Piven Announces the Investigation of MICROS Systems, Inc. in Connection with the Proposed Sale of t...
02 Julho 2014 - 4:55PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty to current shareholders of
MICROS Systems, Inc. (“MICROS” or the “Company”) (Nasdaq: MCRS) and
other violations of state law by the board of directors of MICROS
relating to the proposed buyout of the Company by Oracle Corp.
(“Oracle”).
On June 23, 2014, MICROS and Oracle announced the signing of a
definitive merger agreement pursuant to which Oracle will acquire
MICROS in a merger valued at approximately $5.3 billion. Under the
terms of the transaction, the Company’s shareholders will receive
$68.00 per share in cash in exchange for each share of MICROS stock
they own.
The consideration that MICROS shareholders are expected to
receive does not appear to offer a premium based on price targets
set by a Yahoo! Finance analyst who recently set a price target of
$68.00 per share, the same consideration MICROS shareholders are
expected to receive.
The firm’s investigation seeks to determine, among other things,
whether the Company’s board of directors breached their fiduciary
duties by failing to maximize shareholder value before agreeing to
enter into this transaction, and whether Oracle is underpaying for
MICROS shares.
If you currently own common stock of MICROS and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven1925 Old
Valley RoadStevenson, Maryland 21153Telephone:
410-415-6616hoffman@browerpiven.com
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