BALA CYNWYD, Pa., May 20, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Borland Software Corporation ("Borland" or the "Company") (Nasdaq:BORL) relating to the proposed acquisition by Micro Focus International, Plc. ("Micro Focus"). Micro Focus has agreed to acquire Borland for $75 million in an all-cash deal.
Under the proposed agreement, Borland shareholders will receive $1.00 for every share of Borland common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Borland board's approval of the proposed merger. The transaction appears to be unfair, in part, given that Borland stock was trading at $1.05 a share as recently as January 5, 2009 and $1.94 a share in September of 2008.
If you own shares of Borland and wish to discuss the legal ramifications of the proposed acquisition by Micro Focus, 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 Marc Ackerman, 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.