STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of ChyronHego Corporation (“ChyronHego” or the “Company”)
(Nasdaq: CHYR) relating to the proposed buyout of the Company by Vector
Capital (“Vector”).
On November 17, ChyronHego announced the signing of a definitive merger
agreement pursuant to which an affiliate of Vector will acquire all of
the outstanding shares of ChyronHego common stock in a transaction
valued at approximately $114 million.
Under the terms of the transaction, ChyronHego shareholders are
anticipated to receive $2.82 in cash for each share of ChyronHego common
stock they own. The transaction is expected to close in the first
quarter of fiscal 2015, though ChyronHego shareholders will most likely
be asked to vote on the transaction well before that time.
The firm’s investigation seeks to determine, among other things, whether
the Board of Directors of ChyronHego failed to satisfy their duties to
the Company’s shareholders, including whether the board adequately
pursued alternatives to the acquisition and whether the board obtained
the best price possible for the Company’s shares of common stock. In
particular, according to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for ChyronHego stock at $4.00 per
share.
If you currently own common stock of ChyronHego and would like to learn
more about the investigation being conducted by Brower Piven, without
cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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