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 members of the
Board of Directors of Novell, Inc. (NasdaqGS: NOVL) arising from the
proposed sale of Novell to Attachmate Corporation.
Under the terms of the transaction, Novell shareholders will receive
$6.10 in cash per share. The value of the transaction is approximately
$2.2 billion. The transaction is expected to close by the first quarter
of 2011. As part of the deal, the hedge fund Elliott Associates LP, one
of Novell's largest shareholders, will become a shareholder in
Weiss & Lurie is investigating whether Novell's Board acted in the best
interests of shareholders in approving the proposed transaction and
whether Novell's Board properly sought to maximize shareholder value. As
recently as August 27, 2010, an analyst set a price target of $7.50 per
share for Novell stock. Further, the 9.1% premium to Novell's closing
price on November 19, is less than half the average premium of 21%
acquirers offered for software companies in the past 12 months.
If you own Novell common stock and would like more information about
your rights as a shareholder or additional information concerning our
investigation, please contact Michael A. Rogovin by email at firstname.lastname@example.org
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 (such as insider trading, waste of corporate
assets, accounting fraud, or issuing materially misleading press
releases or SEC filings), consumer fraud (such as false advertising,
defective products, or other deceptive business practices), or
anti-trust violations, please email us at email@example.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.
Weiss & Lurie
Michael A. Rogovin, Esq.
The Fred F. French
551 Fifth Avenue, Suite 1600
New York, NY 10176