BALA CYNWYD, PA / ACCESSWIRE / November 14, 2019 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Carbonite, Inc. ("Carbonite" or "the Company") (CARB) for possible breaches of fiduciary duty and other violations of federal and state law in connection with proposed acquisition of the Company by OpenTextTM (NASDAQ:OTEX). Under the terms of the agreement, Carbonite shareholders will receive only $23.00 for each share of Carbonite common stock owned.
The investigation concerns whether the Carbonite Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether OpenText is underpaying for the Company. The transaction may undervalue the Company and would result in a substantial loss for many Carbonite shareholders. For example, the consideration is well below the 52-week high of $30.06. Additionally, the proposal is below the 12-month consensus analyst price target of $25.67.
If you own shares of Carbonite 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 Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/carbonite-inc-nasdaq-carb, or calling toll free 877-534-2590.
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
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