ACTUATE CORP. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Actuate Corp. (BIRT) Over the Proposed Sale of the Company to Open Text Corp. (OTEX)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Actuate Corp. (“Actuate” or the “Company”) (Nasdaq: BIRT) for potential breaches of fiduciary duties in connection with the sale of the Company to Open Text Corp. (“Open Text”) (Nasdaq: OTEX) for approximately $330 million in an all-cash transaction. The Company’s stockholders will receive $6.60 for each share of Actuate common stock they own.
The investigation focuses on whether Actuate’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Actuate’s shareholders.
If you own common stock in Actuate and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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