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Law Office of Jonathan M. Stein, P.L., Investigates Possible Breach of Fiduciary Duty by the Board of Ness Technologies, Inc.

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  Published in Science and Technology on Monday, June 13th 2011 at 8:30 GMT by Market Wire
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BOCA RATON, Fla.--([ BUSINESS WIRE ])--The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of Ness Technologies, Inc. ("Ness" or the "Company") (Nasdaq: NSTC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to affiliate of Citi Venture Capital International (CVCI), a global private equity investment fund. Under the terms of the proposed transaction, Ness shareholders are to receive $7.75 per share in cash for each outstanding share of Ness common stock, for a total transaction value of about $307 million.

The investigation involves whether the Board of Directors of Ness breached their fiduciary duties to Ness stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether Ness has disclosed all material information to shareholders about the proposed transaction. Of particular interest, according to Yahoo Finance, the Companya™s book value is $9.34 per share, and one analyst has set a target price at $8.00 per share.

If you own stock in Ness and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at [ jstein@jonathansteinlaw.com ] or by telephone at (561) 961-2244.

The Law Office of Jonathan M. Stein, P.L.represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website, [ www.jonathansteinlaw.com ], and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.