Faruqi & Faruqi, LLP Announces Investigation of BigBand Networks, Inc. (BBND)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of BigBand Networks, Inc. (“BigBand” or the “Company”) (NASDAQ: BBND) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to ARRIS Group, Inc. (NASDAQ: ARRS) in an all-cash deal valued at about $158.1 million. Under the terms of the proposed transaction, BigBand stockholders will receive $2.24 for each share of BigBand common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $2.75 for BigBand. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
Whether BigBand’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues BigBand’s shares and by how much this proposed transaction undervalues the Company to the detriment of BigBand’s shareholders are the key focus of this investigation.
If you own common stock in BigBand and wish to obtain additional information, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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