DALLAS--(EON: Enhanced Online News)--Kendall Law Group, led by former federal judge Joe Kendall, is investigating Novell, Inc. (NASDAQ: NOVL) for shareholders in connection with the proposed acquisition by Attachmate Corporation. The national securities firm’s investigation seeks to determine whether Novell and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Novell shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On November 22, 2010, Attachmate announced the definitive merger agreement under which Novell would be acquired by Attachmate, in a transaction valued at approximately $2.2 billion. Under the terms of the agreement, Novell stockholders will receive $6.10 in cash for each share of Novell/NOVL common stock. Novell stock closed at prices as high as $6.51 earlier this year and, according to Thompson/First Call, at least one analyst has set a price target of $7.50 per share for Novell stock. Due to these factors, the firm believes the transaction undervalues the company.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.