Compuware Corporation (NASDAQ:CPWR) Investor Alert: Lawsuit Filed to Halt the Takeover by Thoma Bravo
A lawsuit was filed by investor in shares of Compuware Corporation (NASDAQ:CPWR) in effort to stop the proposed takeover and NASDAQ:CPWR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 09/24/2014 --An investor, who currently holds shares of Compuware Corporation (NASDAQ:CPWR), filed a lawsuit in effort to halt the proposed takeover of Compuware Corporation by Thoma Bravo for $11 per share.
Investors who purchased shares of Compuware Corporation (NASDAQ:CPWR) and currently hold any of those NASDAQ:CPWR shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CPWR stockholders by agreeing to sell Compuware Corporation too cheaply via an unfair process to Thoma Bravo.
On September 2, 2014, Compuware Corporation (Nasdaq: CPWR) and Thoma Bravo jointly announced that Compuware has entered into an agreement to be acquired by private equity investment firm Thoma Bravo, LLC, in a transaction valued at approximately $2.5 billion.
Under the terms of the agreement, pending shareholder approval, Compuware shareholders will receive an aggregate value of approximately $10.92 per share.
However, the plaintiff claims that the offer is too low and undervalues Compuware Corporation. Indeed, at least one analyst has set the high target price for NASDAQ:CPWR shares at $11 per share. Compuware Corporation’s performance improved recently. For instance, it reported that its Total Revenue declined from $723.90 million for the 12 months period that ended on March 31, 2013 to $720.76 million for the 12 months period that ended on March 31, 2014 while its Net Loss of $17.25 million for the 12 months period that ended on March 31, 2013 turned into a Net Income of $71.58 million for the 12 months period that ended on March 31, 2014. Shares of Compuware Corporation (NASDAQ:CPWR) traded in March 2013 as high as $12.49 per share.
In addition, the plaintiff claims that the process is unfair to NASDAQ:CPWR stockholders too. In fact, Elliott Management, which owns approximately 9.5 percent of Compuware's common stock, has already entered into an agreement with Thoma Bravo agreeing to vote its shares in favor of the transaction.
On September 22, 2014, NASDAQ:CPWR shares closed at $10.66 per share.
Those who are current investors in Compuware Corporation (NASDAQ:CPWR) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
Media Relations Contact
View this press release online at: http://rwire.com/548308