Science & Technology
Science and Technology
Science and Technology 
Wed, June 15, 2011
Tue, June 14, 2011
The Law Office of Abe Shainberg Announces Investigation of Ness Technologies, Inc. -- NSTC
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Ness Technologies, Inc. (NASDAQ: NSTC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to an affiliate of Citi Venture Capital International. Under the terms of the proposed transaction, Ness stockholders will receive $7.75 per share in cash for a total transaction value of approximately $307 million.
The investigation concerns whether the Ness Board of Directors breached their fiduciary duties to Ness stockholders by failing to adequately shop the Company before entering into this transaction and whether Citi Venture Capital International is underpaying for Ness shares. At least one analyst set a target price for Ness stock at $8.00 per share and the company reported a book value for the last quarter at $9.34 per share.
If you own common stock in Ness and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/ness-technologies.html ].
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.