Briscoe Law Firm, PLLC, founded by a former state prosecutor and
enforcement attorney for the United States Securities and Exchange
Commission, and the law firm of Powers Taylor, LLP are investigating
potential legal claims against the Board of Directors of Novell,
Inc. (?Novell? or ?NOVL?) (NASDAQ: NOVL) related to the proposed
acquisition of Novell by Attachmate Corporation.
The definitive acquisition agreement, which was announced on November
22, 2010, involves a transaction valued at approximately $2.2 billion
under which Novell shareholders will receive a cash payment of only
$6.10 for each share of Novell/NOVL common stock they hold. Although the
acquisition price represents an approximate 8% premium over
Novell/NOVL's closing price the Friday before the acquisition
announcement, Novell/NOVL shares traded as high as $6.51 in September of
this year, and at least one analyst has set a target price of $7.50 per
share. Based on these and other factors, the proposed transaction does
not appear to adequately value Novell/NOVL shares.
The investigation relates to possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Novell for
approving this transaction and whether Novell's Board of Directors acted
in the shareholders' best interests and properly shopped the deal.
If you currently own shares of Novell/NOVL and would like additional
information regarding this investigation, or if you have information
regarding the allegations involving this transaction, please contact
Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via
e-mail at firstname.lastname@example.org,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a
variety of complex business litigation matters, including claims of
investor and stockholder fraud, shareholder oppression, shareholder
derivative suits, and security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
Briscoe Law Firm, PLLC
Willie Briscoe, 877-397-5991