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Rigrodsky & Long, P.A. Announces Investigation of BigBand Networks, Inc.

^{Published on 2011-10-11 10:16:11 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of BigBand Networks, Inc. (aBigBanda or the aCompanya) (Nasdaq: [ BBND ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by ARRIS Group, Inc. (aARRISa) in a transaction with an approximate diluted equity value of approximately $172 million, or $53 million net of estimated BigBand cash on hand.

"In the quarter, we made good progress in our growth initiatives, including a major win for our new MSP platform with AT&T. This win validates the MSPa™s highly-differentiated advertising capabilities and position in IP Video and opens new opportunities with telco and cable customers[.]"

Click here to learn more and how to join the action: [ http://investigations.rigrodskylong.com/bigbandnetworksinc-bbnd/ ].

Under the proposed agreement, ARRIS will commence a tender offer for all of the outstanding shares of BigBand common stock within 10 business days. BigBand shareholders will receive $2.24 per share in cash for all outstanding shares of BigBand common stock tendered in the offer.

The investigation concerns whether BigBanda™s board of directors adequately shopped the Company to obtain the best price possible for BigBanda™s shareholders before entering into the agreement with ARRIS. Indeed, Redpoint Ventures and ValueAct Capital Partners, holders of 32% of the outstanding shares of BigBand, have agreed to tender their shares in the offer and to vote their shares in favor of the merger agreement and against any other transaction. Moreover, according to Yahoo! Finance, at least one analyst has set a $2.75 per share stock price for BigBand stock.

Indeed, as recent as July 25, 2011, BigBand announced its second quarter 2011 financial results wherein Company President and CEO, Amir Bassan-Eskanzi commented on BigBanda™s progress in its growth initiatives. He stated: aIn the quarter, we made good progress in our growth initiatives, including a major win for our new MSP platform with AT&T. This win validates the MSPa™s highly-differentiated advertising capabilities and position in IP Video and opens new opportunities with telco and cable customers[.]a

If you own the common stock of BigBand and purchased your shares before October 11, 2011, 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 [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

[ Rigrodsky & Long, P.A. ], with offices in Wilmington, Delaware and Garden City, New York, regularly litigates [ securities class, derivative and direct actions, shareholder rights litigation ] and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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