IGATE CORP. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of iGate Corp. Over the Proposed Sale of the Company to Cap Gemini S.A. - IGTE
April 27,2015 – 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 iGate Corp. (“iGate” or the “Company”) (Nasdaq: IGTE) for potential breaches of fiduciary duties in connection with the sale of the Company to Cap Gemini S.A. (“Cap Gemini”) (PAR: CAP.PA) for approximately $4.0 billion in a cash transaction. The Company’s stockholders will receive $48 for each share of iGate common stock they own. This represents a mere 5% premium on iGate’s closing price from this past Friday, April 24. In addition, at least one analyst has set a price target of $55.00 for the Company's shares.
The investigation focuses on whether iGate’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 iGate’s shareholders.
If you own common stock in iGate 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
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Tel: (212) 983-9330
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