The Law Firm of Weiss & Lurie Investigates Transcend Services, Inc.
10 März 2012 - 12:00AM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Transcend Services,
Inc. (NASDAQ: TRCR) arising from its agreement for Transcend to be
acquired by Nuance Communications, Inc. (NASDAQ: NUAN) for $29.50
per share through a tender offer process expected to commence on or
before March 20, 2012. The transaction is expected to close during
the second half of 2012, subject to customary conditions.
Weiss & Lurie is investigating whether Transcend’s Board
acted in the best interests of shareholders in approving this deal.
The Company’s stock traded above the offer price as recently as
August 2011. At least one analyst set the target price for
Transcend stock at $30.00 per share just prior to the deal. Indeed,
the Company recently reported record sales, a 42% increase in
operating income, and 33% increase in revenue in 2011 as compared
to 2010.
The Board may have approved the deal to further the interests of
insiders. Key members of Transcend’s management, including its
president and CEO Susan McGrogan and its CFO Lance Cornell are
expected to play integral roles at Nuance upon consummation of the
merger.
If you own Transcend shares and would like more information
about your rights as a shareholder or additional information
concerning our investigation, please contact Julia J. Sun either by
email at info@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (including
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at info@weisslurie.com or fill out the form on our
website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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