Science & Technology
Science and Technology
Science and Technology
Fri, October 29, 2010
Thu, October 28, 2010
Syniverse Technologies Shareholder Investigation by Briscoe Law Firm Regarding the Proposed Acquisition by The Carlyle Group
DALLAS--([ 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 law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of [ Syniverse Technologies ] (aSyniversea or aSVRa) (NYSE: SVR) related to the proposed acquisition of Syniverse by the private equity firm The Carlyle Group.
The definitive merger agreement, which was announced on October 28, 2010, involves a going private transaction valued at approximately $2.6 billion under which Syniverse shareholders will receive only $31.00 in cash per share of common stock held. The proposed acquisition price represents an approximate 30% over Syniversea™s closing price the day before the merger announcement. However, based on the companya™s increase in net and total revenue reported in Syniversea™s second quarter 2010 financial reports, compared to the same period in 2009, and Syniversea™s historic stock price, the firm believes that the proposed transaction may undervalue Syniverse/SVR shares and not be fair to the shareholders.
This investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Syniverse Technologies for approving this transaction and whether Syniverse Technologiesa™ Board of Directors acted in the shareholdersa™ best interests.
If you currently own shares of Syniverse Technologies/SVR and would like additional information regarding this investigation, or if you have information regarding the allegations involving 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 and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
