DDi Corp. Merger Investigated by the Securities Attorneys at The Briscoe Law Firm and Powers Taylor, LLP
April 04 2012 - 1:36PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of DDi Corp. (“DDI” or “DDIC”)
(NASDAQ: DDIC) to Viasystems Group, Inc. for shareholders. Under
the proposed buyout, DDIC shareholders will receive $13.00 in cash
for each share of DDIC stock owned.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive merger agreement involves an all cash transaction
with a total equity value of approximately $282 million, or $268
million net of DDIC’s cash plus debt assumed. The transaction is
expected to close later in the second quarter or early in the third
quarter of 2012.
The investigation centers on whether DDIC shareholders are
receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues DDIC’s stock, and whether
DDIC’s board attempted to obtain the highest share price for all
shareholders prior to agreeing to the deal. The acquisition price
only represents an approximate 6% premium over the closing price of
DDIC shares the day before the merger announcement. According to
shareholder rights attorney Willie Briscoe, “Based on the lack of a
significant premium to DDIC shareholders, and other factors, the
firms are investigating whether the buyout price is fair to DDIC
shareholders. Our proposed shareholder lawsuit seeks to obtain
additional value for shareholders than what is proposed in the
current buyout offer.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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