The fairness of the proposed acquisition of Guidance Software, Inc. (“GUID” or the “Company”) (NASDAQ: GUID) by Open Text Corporation (“OTEX”) (NASDAQ: OTEX) is the subject of an investigation by WeissLaw LLP, a national class action and shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of GUID for agreeing to sell the Company to OTEX. On July 26, 2017, the Company announced a definitive agreement for OTEX to acquire GUID in a transaction valued at approximately $240 million. Under the terms of the agreement, GUID shareholders will receive $7.10 in cash for each GUID share they own.
WeissLaw is investigating whether GUID’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $10.00 per share, or approximately $3.00 above the offer price. Additionally, on July 19, a mere 5 days prior to the acquisition announcement, shares of GUID traded for $7.30, or $0.20 above the offer price.
Given these facts, WeissLaw is investigating whether the GUID Board acted in the best interests of GUID’s public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with OTEX. If you own GUID shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/guidance-software-inc/