An investigation for Comverse Technology investors in connection with the proposed takeover of Comverse Technology, Inc. (NASDAQ:CMVT) was announced and NASDAQ:CMVT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/15/2012 -- The proposed takeover of Comverse Technology, Inc. (NASDAQ:CMVT) prompted an investigation on behalf of current investors in NASDAQ:CMVT shares concerning whether the offer by Verint Systems Inc. is unfair and undervalues Comverse Technology, Inc.
Investors who purchased shares of Comverse Technology, Inc. (NASDAQ:CMVT) prior to August 13, 2012, and currently hold any of those NASDAQ:CMVT shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
On August 13, 2012, Comverse Technology, Inc. ("CTI") announced that it has signed a merger agreement with its majority-owned subsidiary Verint Systems Inc. (Nasdaq:VRNT). Under the terms of the proposal, a newly formed wholly-owned subsidiary of Verint will acquire Comverse, and Verint will issue to Comverse's shareholders new Verint common shares in an amount equal to approximately 27.5 million Verint common shares (16.3 million common shares currently held by Comverse and approximately 11.2 million common shares underlying the convertible preferred shares at the expected time of the transaction closing) plus up to an additional $25 million in Verint common shares (approximately 880,592 shares based on Verint's August 10, 2012 closing stock price of $28.39).
However, at least one analyst has set the high target price for NASDAQ:CMVT shares at $10.00.
Therefore the investigation by a law firm on behalf of NASDAQ:CMVT investors focuses on whether the Comverse Technology Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Comverse Technology, Inc. (NASDAQ:CMVT) and purchased their Comverse Technology, Inc. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com