Faruqi & Faruqi, LLP Announces Investigation into Possible Breaches of Fiduciary Duties by the Board of Transcend Services, Inc. in Connection with the Sale of the Company to Nuance Communications, Inc.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Transcend Services, Inc. (“Transcend” or the “Company”) (NASDAQ: TRCR) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Nuance Communications, Inc. (NASDAQ: NUAN), in an all-cash deal valued at about $327 million. Under the terms of the proposed transaction, Transcend stockholders will receive $29.50 in cash for each share of Transcend common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $34.00 for Transcend. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
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Whether Transcend'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 Transcend's shares and by how much this proposed transaction undervalues the Company to the detriment of Transcend's shareholders are the key focus of this investigation.
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If you own common stock in Transcend and wish to obtain additional information and protect your investment free of charge, please visit us at www.faruqilaw.com/TRCR or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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