CINCINNATI, March 13, 2012 (GLOBE NEWSWIRE) -- Attorney Advertising. – The law firm of Statman, Harris & Eyrich, LLC announces that it is investigating Quest Software, Inc. ("Quest" or the "Company") concerning potential breaches of fiduciary duty by members of its board of directors.
The investigation centers on whether the board disclosed all material benefits and costs and engaged in a fair process to obtain maximum value and adequately compensate shareholders under the proposed acquisition of the Company by Quest CEO, Vincent Smith, and Expedition Holding Co., an affiliate of Insight Venture Partners. Under the terms of the agreement, shareholders would receive $23.00 in cash per share of common stock, while at least two analysts have set target prices as high as $26 and $29.00 per share. In addition, Smith, an owner of approximately 29% of the Company's shares, will receive an equity stake in the surviving company, which he will continue to run.
Shareholders of Quest Software, Inc. who wish to discuss this investigation are encouraged to contact attorney Brian Giles at (513) 345-8181 or by e-mail to classaction@statmanharris.com for further information about this matter without any obligation or cost to you.
Statman, Harris & Eyrich, LLC, which has significant experience in consumer, investor, and mass tort class actions, has offices in Chicago, Illinois; Cincinnati, Ohio; Dayton, Ohio; and Sarasota, Florida. www.statmanharris.com.