The Law Offices of Vincent Wong Announce an Investigation of Blackboard Inc.
July 05 2011 - 3:17PM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Blackboard Inc. (NASDAQ: BBBB) for possible breaches
of fiduciary duty and other violations of state law in connection
with the sale of the Company to an investor group led by affiliates
of Providence Equity Partners. Under the terms of the proposed
deal, Blackboard stockholders will receive $45.00 per share in
cash. The transaction has a total value of approximately $1.64
billion, plus the assumption of approximately $130 million in net
debt.
For more information, click here:
http://www.wongesq.com/blackboard-bbbb.html.
The investigation concerns whether the Blackboard Board of
Directors breached their fiduciary duties to Blackboard
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Providence Equity
Partners is underpaying for Blackboard shares. According to
Thomson/First Call, at least one analyst set a price target for
Blackboard stock at $55.00 per share.
If you own common stock in Blackboard and wish to obtain
additional information, please contact Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/blackboard-bbbb.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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