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NOVELL : The Law Firm of Weiss & Lurie Investigates the Sale of Novell, Inc. to Attachmate Corporation

11/22/2010 | 03:25pm EDT

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 Attachmate.

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 infony@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 (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 infony@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.

Weiss & Lurie
Michael A. Rogovin, Esq.
The Fred F. French Building
551 Fifth Avenue, Suite 1600
New York, NY 10176
T: 212.682.3025
F: 212.682.3010

ę Business Wire 2010
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