Law Firm Brower Piven Announces Investigation of Telanetix, Inc.
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Telanetix, Inc. (“Telanetix” or the “Company”) (OTCBB: TNIX) and other violations of state law by the board of directors of Telanetix relating to the proposed acquisition of the Company by Intermedia Holdings, Inc. The firm’s investigation seeks to determine, among other things, whether the board of directors of Telanetix breached their fiduciary duties by failing to maximize shareholder value.
Under the terms of the proposed transaction, Telanetix shareholders will receive $7.40 in cash for each share of common stock they own. The transaction is currently being valued at $55 million. According to Bloomberg, the EBITDA and free cash flow multiples for the proposed buyout transaction are lower than the median multiples for comparable transactions.
If you currently own common stock of Telanetix and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at email@example.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
Brower Piven, A Professional Corporation
Charles J. Piven, (410) 415-6616
KEYWORDS: United States North America District of Columbia Maryland