BroadSoft Inc (NASDAQ:BSFT) Investor Investigation Over Possible Wrongdoing In Acquisition Announced

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An investigation on behalf of investors, who currently hold shares of BroadSoft Inc (NASDAQ:BSFT), was announced concerning whether the takeover of BroadSoft Inc. by Cisco is unfair to BNASDAQ:BSFT stockholders.

The investigation by a law firm concerns whether certain officers and directors of BroadSoft Inc breached their fiduciary duties owed to NASDAQ:BSFT investors in connection with the proposed acquisition.

On October 23, 2017 – Cisco (NASDAQ: CSCO) and BroadSoft Inc (NASDAQ:BSFT) announced an agreement for Cisco to acquire publicly-held BroadSoft Inc (NASDAQ:BSFT). Pursuant to the agreement, Cisco will pay $55 per share, in cash, in exchange for each share of BroadSoft Inc (NASDAQ:BSFT), or an aggregate purchase price of approximately $1.9 billion net of cash, assuming fully diluted shares including conversion of debt.

However, the investigation concerns whether the offer is unfair to NASDAQ:BSFT stockholders. More specifically, the investigation concerns whether the BroadSoft Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

BroadSoft Inc (NASDAQ:BSFT) reported that its annual Total Revenue rose from $278.84 million in 2015 to $340.96 million in 2016.