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| Protecting the Rights of Shareholders and Consumers |
Avocent Corp. Securities Litigation
Avocent Corp. (NasdaqGS: AVCT) shareholder litigation over alleged unfair takeover
On October 6, 2009, Avocent Corp. (“Avocent” or the “Company”)announced that it agreed to sell the Company to Emerson Electric
Co. ("Emerson"). Under the terms of the agreement, Avocent shareholders will receive $25.00 in cash for each share of Avocent
common stock they own for a total transaction value of approximately $1.2 billion.
The investigation concerns whether the Avocent Board of Directors breached their fiduciary duties to Avocent shareholders given
that at least one analyst has set a $27.00 per share price target for Avocent stock and the Board agreed to a no-solicitation
provision and a $35 million termination fee and/or reimburse Emerson for transaction expenses up to $7.5 million that will all but
ensure that no superior offer will ever be forthcoming.
On October 6, 2009, Avocent Corp. (“Avocent” or the “Company”)announced that it agreed to sell the Company to Emerson Electric
Co. ("Emerson"). Under the terms of the agreement, Avocent shareholders will receive $25.00 in cash for each share of Avocent
common stock they own for a total transaction value of approximately $1.2 billion.
The investigation concerns whether the Avocent Board of Directors breached their fiduciary duties to Avocent shareholders given
that at least one analyst has set a $27.00 per share price target for Avocent stock and the Board agreed to a no-solicitation
provision and a $35 million termination fee and/or reimburse Emerson for transaction expenses up to $7.5 million that will all but
ensure that no superior offer will ever be forthcoming.
