Epicor Software Corporation Shareholder Investigation by Briscoe Law Firm Concerning Acquisition by Apax Partners
05 April 2011 - 12:53AM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of Epicor Software Corporation (“Epicor
Software” or “EPIC”) (NASDAQ: EPIC) related to the proposed buyout
of Epicor Software by the private equity firm Apax Partners. The
going private agreement, which was announced on April 4, 2011,
involves an all-cash transaction valued at approximately $976
million. Under the proposed buyout, Epicor Software shareholders
will receive $12.50 in cash for each share of Epicor Software/EPIC
common stock they hold. Apax will commence a tender offer no later
than April 8, 2011, and the transaction is expected to close in the
second quarter of 2011.
The investigation relates to the fairness of the proposed
transaction to Epicor Software shareholders and whether Epicor
Software’s Board of Directors acted in the shareholders’ best
interests. Although the acquisition price represents an approximate
11% premium over Epicor Software’s closing price the day before the
buyout announcement, based on the company’s historic stock price
and other factors, the firms do not believe that the acquisition
price is fair to Epicor Software shareholders. In addition, the
firms seek to determine through their investigation whether Epicor
Software’s Board of Directors adequately considered all viable
alternatives and properly shopped the company before entering into
the acquisition agreement with Apax Partners.
If you currently own shares of Epicor Software/EPIC and would
like additional information regarding this investigation, or if you
have information regarding the allegations involved in this
transaction, please 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 toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
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