The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Radiant Systems, Inc.
July 13 2011 - 12:13PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former enforcement
attorney for the United States Securities and Exchange Commission,
and the securities litigation firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Radiant Systems, Inc. (“Radiant Systems” or “RADS”) (NASDAQ:
RADS) related to the acquisition of Radiant Systems by NCR
Corporation.
The definitive acquisition agreement, which was announced on
June 11, 2011, involves an all-cash transaction valued at
approximately $1.2 billion. Under the proposed buyout, Radiant
Systems’ shareholders will receive $28.00 in cash for each share of
Radiant Systems/RADS common stock they hold through a tender offer
commencing on July 25, 2011. The transaction is expected to close
in Radiant Systems’ third quarter of fiscal year 2011.
The firms are investigating the fairness of the proposed
transaction to Radiant Systems shareholders, whether the
shareholders are being underpaid for their stock, and whether
Radiant Systems’ Board of Directors acted in the shareholders’ best
interests. In particular, in April 2011, Radiant Systems reported
first quarter financial results that exceeded analysts’
expectations, including a 10% increase in revenue compared with the
company’s prior fiscal year first quarter revenue. In addition, the
firms are evaluating whether Radiant Systems’ Board of Directors
considered all potential alternatives to the deal and obtained the
best price for the shareholders.
If you currently own shares of Radiant Systems/RADS and would
like additional information regarding this investigation, or if you
have information regarding the allegations involved in this
transaction, please contact Patrick Powers at Powers Taylor, LLP,
toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
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