BALA CYNWYD, Pa., Aug. 11, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of SPSS, Inc. ("SPSS" or the "Company") (Nasdaq:SPSS) relating to the proposed acquisition by IBM ("IBM"). IBM has agreed to acquire SPSS in an all-cash deal valued at approximately $1.2 billion.
Under the proposed agreement, SPSS shareholders will receive $50 for every share of SPSS common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the SPSS board's approval of the proposed merger. The transaction appears to be unfair, in part, given that SPSS board has agreed to a $23.5 million termination fee that discourages other bidders. Prior to the proposed merger announcement SPSS stock had risen 30 percent this year and analyst estimate that the transaction may allow IBM deeper penetration into the analytics market.
If you own shares of SPSS and wish to discuss the legal ramifications of the proposed acquisition by IBM, 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.