Science & Technology
Thu, January 19, 2012
WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Convio, Inc. (aConvioa or the aCompanya) (Nasdaq: [ CNVO ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companyas entry into an agreement to be acquired by Blackbaud, Inc. (aBlackbauda) in a transaction with an approximate value of $275 million.
Click here to learn more and to discuss your shareholder rights: [ http://investigations.rigrodskylong.com/convio-inc-cnvo/ ].
Under the proposed agreement, Blackbaud will commence a cash tender offer to purchase all of the outstanding shares of Convioas common stock for $16.00 per share. In addition, all Convio directors and officers and certain of its affiliates (representing over 30% of Convioas total outstanding shares) have agreed to tender all of their respective shares in the tender offer.
The investigation concerns whether Convioas board of directors adequately shopped the Company to obtain the best price possible for Convio shareholders before entering into the agreement with Blackbaud. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $17.00 per share for Convio stock.
If you own the common stock of Convio and purchased your shares before January 17, 2012, 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.
Attorney advertising. Prior results do not guarantee a similar outcome.
