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Brower Piven Announces an Investigation of the Acquisition of Lawson Software, Inc. by GGC Software Holdings, Inc., an Affiliat

^{Published on 2011-04-26 10:30:50 - Market Wire}
 

STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Lawson Software, Inc. (aLawsona) (NASDAQ:LWSN) and other violations of state law by the board of directors of Lawson relating to the proposed acquisition of the company by GGC Software Holdings, Inc., an affiliate of Golden Gate Capital (aGolden Gatea), and Infor. The firma™s investigation seeks to determine, among other things, whether Lawson and its board breached their fiduciary duties by failing to maximize shareholder value.

On April 26, 2011, Lawson announced that it had entered into a definitive agreement for Lawson to be acquired by Golden Gate and Infor. Under the terms of the agreement, stockholders of Lawson will receive $11.25 per share in cash. The going-private transaction is valued at approximately $2 billion. Lawsona™s board of directors unanimously approved the transaction and board members who collectively own approximately 9% of Lawsona™s outstanding shares have agreed to vote their shares in favor of the transaction. The $11.25 per share cash consideration represents a premium of approximately 14% to Lawsona™s closing share price on March 7, 2011, the last trading day prior to news reports speculating about a potential transaction involving the company. However, Lawson recently announced strong financial results for the third quarter 2011: revenues were $196 million with operating income of $22.3 million and net income of $21.4 million, or diluted earnings per share (aEPSa) of $0.13, compared to third quarter 2010 revenues of $186 million with operating income of $11.6 million and net income of $1.7 million, or EPS of $0.01. The transaction is expected to close in the third quarter of 2011.

If you currently own shares of Lawson and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.