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 Polycom, Inc. (“Polycom” or “the Company”) (Nasdaq: PLCM)
relating to the proposed buyout of the Company by Mitel Networks
Corporation (“Mitel Networks”).
Under the terms of the agreement, Polycom shareholders are anticipated
to receive $3.12 in cash and 1.31 shares of Mitel Networks stock for
each share of Polycom common stock held. The transaction values Polycom
stock at approximately $13.68 per share. 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, especially given that according to Yahoo!
Finance, at least one Wall Street analyst has issued a price target
for Polycom stock at $15.00 per share.
If you currently own common stock of Polycom 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.
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