DALLAS, July 8, 2009 – LawFuel.com — Kendall Law Group, led by a former federal judge and U.S. Attorney, is investigating the sale of MSC.Software Corporation (Nasdaq: MSCS) to Symphony Technology Group and Elliott Management Corporation.
Under the terms of the current agreement, MSC shareholders will receive
$7.63 in cash for each share of MSC they own for a total transaction value of almost $360 million. It is unclear how Symphony and Elliott will divide up the company once they acquire it in the third quarter of 2009. However, Elliott is already MSC’s largest shareholder, owning about 13 percent of the shares. The officers and directors of MSC have already approved the sale.
MSC’s Board of Directors owes many fiduciary duties to shareholders.
However, the Kendall Law Group is investigating this transaction
because: (1) the Company’s shares traded at $7.73 as recently as June 1, 2009 and over $10.70 per share in the fourth quarter of 2008; (2) the Company has $149 million in cash (or $3.27 per share) with no debt and a book value in excess of $7.00 per share; and (3) analysts set a median price target for MSC stock at $8.75 per share with a high target of $10.00 per share.
MSC makes advanced simulation software for the automotive, aeronautics and defense industries. It can accurately predict how product designs ranging from mobile phones to supersonic aircraft and space ships will behave in real world scenarios, including crashes, before they are manufactured.
Kendall Law Group is led by a former federal judge and U.S. Attorney.
It has extensive experience in representing investors in shareholder lawsuits. Although every case is different, the law firm has participated in the recovery of over $800 million for shareholders. For more information about your rights as an MSC shareholder, please contact attorney Hamilton Lindley at 877-744-3728 or [email protected]
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