The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of SmartPros Ltd. (NasdaqCM: SPRO) (“SmartPros” or the
“Company”) relating to the proposed buyout of the Company by Kaplan,
Inc., a subsidiary of Graham Holdings, in a transaction valued at
approximately $16.9 million.
Under the terms of the transaction, SmartPros shareholders are
anticipated to receive $3.57 in cash for each share of SmartPros common
stock held. The firm’s investigation seeks to determine, among other
things, whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately pursued
alternatives to the acquisition and whether the Board obtained the best
price possible for the Company’s shares of common stock.
If you currently own common stock of SmartPros and believe that the
proposed buyout price is too low, or you would like to learn more about
the investigation being conducted by Brower Piven, please visit our
website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151027007075/en/
Copyright Business Wire 2015