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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of TechTeam Global, Inc. in Connection with th

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  Published in Science and Technology on Wednesday, November 3rd 2010 at 13:10 GMT by Market Wire
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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of TechTeam Global, Inc. (aTechTeama or the aCompanya) (NASDAQ:TEAM) related to the Companya™s agreement to be acquired by an affiliate of Stefanini International Holdings Ltd. (d/b/a Stefanini IT Solutions) (aStefaninia). The proposed cash transaction is valued at approximately $93 million.

Under the terms of the definitive agreement entered into by the parties, Stefanini, through a U.S. subsidiary, will make an offer to purchase all outstanding shares of TechTeam common stock for $8.35 per share in cash. The proposed transaction is structured as an all-cash tender offer followed by a second-step merger. The tender offer is scheduled to commence within 10 business days and is expected to close during the fourth quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by TechTeama™s board of directors.

If you are a shareholder of TechTeam, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].