Science & Technology
Fri, May 13, 2011Thu, May 12, 2011Wed, May 11, 2011Tue, May 10, 2011Mon, May 9, 2011Sun, May 8, 2011Sat, May 7, 2011Fri, May 6, 2011Thu, May 5, 2011Wed, May 4, 2011Tue, May 3, 2011Mon, May 2, 2011Fri, April 29, 2011Thu, April 28, 2011Wed, April 27, 2011Tue, April 26, 2011Mon, April 25, 2011Fri, April 22, 2011Thu, April 21, 2011Wed, April 20, 2011Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Epicor Software Corporation
Published in Science and Technology on Friday, April 29th 2011 at 16:51 GMT by Market Wire
SAN DIEGO--([ BUSINESS WIRE ])--Robbins Geller Rudman & Dowd LLP (aRobbins Gellera) ([ http://www.rgrdlaw.com/cases/epicor/ ]) today announced that a class action has been commenced in the United States District Court for the Central District of California on behalf of all persons who held shares of the common stock of Epicor Software Corporation (aEpicora) (NASDAQ:EPIC) on April 4, 2011, against Epicor and certain of its officers and/or directors and their related parties, and Eagle Parent, Inc., its wholly-owned subsidiary Element Merger Sub, Inc. and Apax Partners, L.P. (collectively, aApaxa), for violations of 14(d)(7) of the Securities Exchange Act of 1934 (a1934 Acta) and Rule 14d-10 promulgated thereunder, in connection with the tender offer by Apax for Epicor (the aTender Offera).
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffa™s counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at [ djr@rgrdlaw.com ]. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at [ http://www.rgrdlaw.com/cases/epicor/ ]. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint alleges that the Tender Offer is being made pursuant to an Agreement and Plan of Merger (the aMerger Agreementa) entered into between Apax and Epicor and approved by the Companya™s Board of Directors. The signing of the Merger Agreement was announced on April 4, 2011. Apax launched the Tender Offer on April 11, 2011, offering to pay each public shareholder of Epicor $12.50 per share. The Tender Offer is set to expire on May 6, 2011.
The complaint alleges that as part of the Tender Offer, Apax has agreed to pay certain Epicor insiders (the aRollover Shareholdersa) additional and different consideration that Apax has not offered to pay to Epicora™s other shareholders. Specifically, Apax has entered into Support Agreements with the Rollover Shareholders that provide that the Rollover Shareholders will support the transactions contemplated by the Merger Agreement but not tender their shares to Apax. Instead, the Rollover Shareholders will have their shares purchased directly by Apax and then have the opportunity to receive alternate consideration from Apax in the form of an equity investment in the surviving Company. The additional and different consideration being paid by Apax to the Rollover Shareholders is an integral part of the Tender Offer and is being paid as consideration in return for the Rollover Shareholdersa™ endorsement and/or their agreement to cooperate with Apax in consummating the Tender Offer. According to the complaint, Apaxa™s improper agreement with the Rollover Shareholders violates 14(d)(7) of the 1934 Act and Rule 14d-10 promulgated thereunder.
Plaintiff seeks to recover damages on behalf of all holders of Epicor common stock on April 4, 2011 (the aClassa). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site ([ http://www.rgrdlaw.com ]) has more information about the firm.
