Faruqi & Faruqi, LLP Announces Investigation of Blackboard, Inc.
July 05 2011 - 11:00AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Blackboard, Inc. (“Blackboard” or the “Company”)
(Nasdaq: BBBB) for potential breaches of fiduciary duties in
connection with their conduct related to the sale of the Company to
an investor group led by affiliates of Providence Equity Partners
in an all cash deal valued at approximately $1.64 billion. The
transaction is expected to close in the fourth quarter of 2011.
Under the terms of the proposed transaction, Blackboard’s
shareholders will receive $45 in cash, while, according to Yahoo!
Finance, at least one financial analyst has set a price target of
$55 for Blackboard. Furthermore, Blackboard has experienced recent
positive financial results, for example, its total revenue for the
first quarter of 2011 was $118.8 million – an increase of 18% over
the first quarter of 2010.
Request more information now by clicking here:
www.faruqilaw.com/BBBB
Whether Blackboard’s Board of Directors breached their fiduciary
duties to the Company’s stockholders by failing to conduct an
adequate and fair sales process prior to agreeing to this proposed
transaction, whether the proposed transaction undervalues
Blackboard’s shares and by how much this proposed transaction
undervalues the Company to the detriment of Blackboard’s
shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, through all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Blackboard and wish to obtain
additional information, please visit us at www.faruqilaw.com/BBBB
or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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