BALA CYNWYD, Pa., May 26, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Logility, Inc. ("Logility" or the "Company") (Nasdaq:LGTY) relating to the tender offer by American Software, Inc. ("American Software") (Nasdaq:AMSWA). The offer expires on June 22, 2009, unless further extended.
Under the proposed offer, Logility shareholders will receive $7.02 for every share they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Logility board's approval of the proposed tender and recommendation that Logility shareholders tender their shares. American Software already owns an approximately 88% stake in the Company, which may prevent other superior offers from being made. In addition, Logility shares traded above the tender offer as recently as September 2008.
If you own shares of Logility and wish to discuss the legal ramifications of the proposed acquisition by American Software 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.