Law Firm Brower Piven Announces Investigation of Blue Coat Systems, Inc.

STEVENSON, Md.--(BUSINESS WIRE)--

The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Blue Coat Systems, Inc. (“Blue Coat”) BCSI and other violations of state law by the board of directors of Blue Coat relating to the proposed acquisition of the company by Thoma Bravo, LLC (“Thoma Bravo”). The firm's investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.

On December 9, 2011, Blue Coat and Thoma Bravo announced that the two companies had entered into a definitive merger agreement for Thoma Bravo to acquire Blue Coat for $25.81 per share in cash, or a net purchase price of approximately $1.3 billion. However, at least one analyst on Yahoo! Finance has set a high price target of $28.00 per share. Furthermore, according to the New York Times DealBook column, Blue Coat stock has recently traded higher than the proposed merger price, reaching a high of $32.00 in January 2011.

If you currently own shares of Blue Coat 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 hoffman@browerpiven.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.