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SHAREHOLDER ALERT: WeissLaw LLP Investigates Carbonite, Inc.

NEW YORK, Nov. 12, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Carbonite, Inc. ("CARB" or the "Company") (CARB) in connection with the proposed acquisition of the Company by OpenText Corporation ("OTEX") (OTEX).  Under the terms of the acquisition agreement, CARB shareholders will receive $23.00 for each CARB share they own.

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

If you own CARB shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/carbonite-inc/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw is investigating whether CARB's Board acted to maximize shareholder value prior to entering into the acquisition agreement.  Notably, at least one analyst set a target price of $35.00 per CARB share, or $12.00 above the offer price.  In addition, RBC Capital downgraded the Company's stock from Outperform to Sector Perform on the same day as the acquisition announcement. 

Finally, the Company announced revenue of $125.6 million in the third quarter of 2019, representing an impressive 62% year-over-year increase when compared to the figures reported in the same period of the previous year. 

Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

 

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