BALA CYNWYD, Pa., April 20, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Entrust Inc. ("Entrust" or the "Company") (Nasdaq:ENTU) relating to the proposed acquisition by HAC Holdings, Inc., an affiliate of Thomas Bravo, LLC ("HAC Holdings"). HAC Holdings has agreed to acquire Entrust in an all-cash deal valued at approximately $114 million.
Under the proposed agreement, Entrust shareholders will receive $1.85 for every share of Entrust common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Entrust board's approval of the proposed merger. The transaction appears to be unfair, in part, given that Entrust stock was trading at over $2.30 a share as recently as September 2008 and the merger agreement would require Entrust to pay up to $4.58 million upon a termination of the merger agreement.
If you own shares of Entrust and wish to discuss the legal ramifications of the proposed acquisition by HAC Holdings, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.