Blue Coat Systems, Inc. Takeover Under Investor Investigation

If you are a current investor in Blue Coat Systems, Inc. (NASDAQ: BCSI) and purchased your NASDAQ:BCSI shares prior to the announcement, and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Blue Coat Systems
Affected Securities: 
NASDAQ: BCSI

San Diego, Dec. 9, 2011 (Shareholders Foundation) -- The announcement that Blue Coat Systems, Inc. agreed to be acquired by an investor group led by Thoma Bravo LLC for $25.81 per share prompted an investigation for investors in shares of Blue Coat Systems, Inc. (NASDAQ:BCSI) concerning whether the offer to acquire Blue Coat Systems and the buyout process are unfair to investors of Blue Coat Systems (BCSI) and whether certain of its officers and directors at Blue Coat Systems or others breached their fiduciary duties.

The investigations by law firms concern whether Blue Coat Systems, certain of its officers and directors, and/or others breached their fiduciary duties owed Blue Coat Systems, Inc. (NASDAQ:BCSI) investors in connection with the proposed acquisition.

On Friday, December 9, 2011, Blue Coat Systems, Inc. (Nasdaq: BCSI) announced that it has entered into an agreement to be acquired by an investor group led by private equity investment firm Thoma Bravo, LLC, in a transaction valued at approximately $1.3 billion. Under the terms of the proposed transaction, Blue Coat Systems, Inc shareholders will receive $25.81 in cash for each share of Blue Coat common stock they hold.
Blue Coat Systems, Inc said the offer represents a premium of approximately 48% over Blue Coat’s closing price on December 8, 2011 and a premium of approximately 62% over the 60-day trailing average for the period ended December 8, 2011.
Following the announcement NASDAQ:BCSI shares jumped from $17.48 per share to $2.517 on Friday.

However, BCSI stocks traded as high as $28.80 on April 29th, as high as $31.07 on Feb. 11th, and slightly over $32 in January 2011, thus well above the current offer.

Therefore the investigation for investors concerns whether the Blue Coat Systems Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to Blue Coat Systems, Inc. (BCSI) shareholders by failing to adequately shop the Company before entering into this transaction.

Despite recent stock trading prices well above the current offe Blue Cot Systems’ performance increased over the past years. Blue Coat Systems’ 12months Revenue increased from $305.44million for a 12months period ending on April 30, 2008 to $487.11million for a 12months period ending on April 30, 2011. Additionally at least one analyst has set the high target price at $28 per share.

A potential securities class action lawsuit would seek to maximize the amount of money and information Blue Coat Systems (BCSI) shareholders would receive in a buyout, so the law firm.