NEW YORK, July 28, 2017 /PRNewswire/ -- The fairness of the
proposed acquisition of Guidance Software, Inc. ("GUID" or the
"Company") (NASDAQ: GUID) by Open Text Corporation ("OTEX")
(NASDAQ: OTEX) is the subject of an investigation by WeissLaw LLP,
a national class action and shareholder rights law firm. The
investigation focuses on possible breaches of fiduciary duty and
other violations of law by the Board of Directors of GUID for
agreeing to sell the Company to OTEX. On July 26, 2017, the Company announced a definitive
agreement for OTEX to acquire GUID in a transaction valued at
approximately $240 million.
Under the terms of the agreement, GUID shareholders will
receive $7.10 in cash for each GUID
share they own.
WeissLaw is investigating whether GUID's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $10.00 per share, or approximately $3.00 above the offer price. Additionally,
on July 19, a mere 5 days prior to
the acquisition announcement, shares of GUID traded for
$7.30, or $0.20 above the offer price.
Given these facts, WeissLaw is investigating whether the GUID
Board acted in the best interests of GUID's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with OTEX. If you own GUID
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/guidance-software-inc/
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SOURCE WeissLaw LLP
