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SOURCE Rigrodsky & Long, P.A.
WILMINGTON, Del., Sept. 2, 2014 /PRNewswire/ -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Compuware Corporation ("Compuware" or the "Company") (NASDAQ GS: CPWR) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Thoma Bravo, LLC ("Thoma Bravo"), in a transaction valued at approximately $2.5 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/compuware-corporation-cpwr-2.
Under the terms of the agreement, Compuware shareholders will receive an aggregate value of approximately $10.92 per share. Thoma Bravo will pay a cash purchase price of $10.43 for each outstanding share of Compuware common stock, less the pro rata portion of the applicable corporate tax that will be owed in connection with the spin-off of Covisint, currently estimated at $0.18 per share based on the current market price of Covisint, for a net cash payment of approximately $10.25 per share. The parties have agreed that within 60 days following the date of the merger agreement, Compuware will effectuate the pro rata distribution to its shareholders of the remaining shares of Covisint owned by Compuware, resulting in a distribution of Covisint shares representing approximately $0.67 per share of Compuware common stock based on the closing price of Covisint on Friday, August 29.
The investigation concerns whether Compuware's board of directors failed to adequately shop the Company and obtain the best possible value for Compuware's shareholders before entering into an agreement with Thoma Bravo. According to Yahoo! Finance, at least one analyst has issued a price target for Compuware stock at $11.60 per share.
If you own the common stock of Compuware and purchased your shares before September 2, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/compuware-corporation-cpwr-2.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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