BALA CYNWYD, Pa., July 8, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of SoftBrands Inc. ("SoftBrands" or the "Company") (NYSE:SBN) relating to the proposed acquisition by Golden Gate Capital and Infor.
Under the proposed agreement, SoftBrands shareholders will receive $0.92 in cash for each share of SoftBrands they own. The deal is valued at approximately $41.3 million ($80 million including debt and preferred shares). The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the SoftBrands board's approval of the proposed transaction. Through the fall of 2008, the stock was trading at or close to $1.00 a share, higher than the current offer.
If you own shares of SoftBrands and wish to discuss the legal ramifications of the proposed acquisition by Golden Gate Capital and Infor, 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.