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Kendall Law Group Investigates ActivIdentity Corporation Acquisition for Shareholders

^{Published on 2010-10-12 06:55:32 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm led by a former federal judge, is investigating ActivIdentity Corporation (NASDAQ: ACTI) for shareholders in connection with the proposed acquisition by Assa Abloy. The firm is investigating whether ActivIdentity properly shopped the Company prior to entering into the agreement. This possible breach of fiduciary duty may have kept the Company from reaching a deal that would provide better value of the Company. If you are an ActivIdentity shareholder and would like additional information about your rights, you are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

On October 11, 2010, ActivIdentity announced the definitive merger agreement under which ActivIdentity would be acquired by Assa Abloy in a transaction valued at approximately $162 million. Under the terms of the agreement, ActivIdentity stockholders will receive $3.25 in cash for each share of ActivIdentity/ACTI common stock held, which represents an approximately 43% premium over the closing price on October 8. ActivIdentity stock was trading for over $3.00 per share earlier this year and according to Thompson/First Call, at least one analyst has set a price target of $4.50 per share for ActivIdentity stock. Based on historical stock prices, the firm believes the transaction significantly undervalues the company.

Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.