BALA CYNWYD, PA / ACCESSWIRE / October 25, 2017 / The law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of BroadSoft, Inc. ("BroadSoft" or the "Company") (NASDAQ:BSFT - News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Cisco Systems, Inc. ("Cisco").
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Under the terms of the transaction, BroadSoft shareholders will receive only $55.00 in cash for each share of BroadSoft stock they own. The investigation concerns whether the Board of BroadSoft breached their fiduciary duties to shareholders and whether Cisco is underpaying for the Company. The transaction may undervalue the Company as the $55.00 per share takeout price represents a meager 2% premium when compared to the Company's trading price on the day prior to the merger announcement, and is significantly below analyst expectations that the Company could be worth up to $60 per share in a buyout.
If you own shares of BroadSoft stock and wish to discuss the legal ramifications of the investigation, 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 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/broadsoft-inc-nasdaqgs-bsft/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC