Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Chordiant Software, Inc. (“Chordiant” or the “Company”) (Nasdaq:CHRD) related to the Company’s agreement to be acquired by Pegasystems, Inc. (“Pegasystems”). The cash transaction is potentially valued at approximately $161.5 million.
Under the terms of the definitive agreement entered into by the parties, Pegasystems will make a cash tender offer of $5.00 per share for all outstanding shares of Chordiant common stock. Following the completion of the tender offer, the agreement provides for the parties to effect a merger which would result in all shares not tendered in the tender offer being converted into the right to receive $5.00 per share in cash. Completion of the transaction is expected to occur in the second calendar quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by the Chordiant board of directors.
If you own shares of Chordiant, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
Howard G. Smith, Esquire
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