EasyLink Services International Corp. (NASDAQ:ESIC) Investor Investigation Over Potential Breaches Of Fiduciary Duties In Connection With The Proposed Takeover By OpenText Corporation

If you purchased shares of EasyLink Services International Corp. (NASDAQ:ESIC) prior to May 1, 2012 and currently hold any of those NASDAQ:ESIC shares, 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): 
EasyLink Services
Affected Securities: 

May 03, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in NASDAQ:ESIC shares concerning whether the offer by OpenText Corporation to acquire EasyLink Services International Corp. at $7.25 per share and the takeover process are unfair to investors in NASDAQ:ESIC was announced.

The investigations by a law firm concerns whether certain officers and directors of EasyLink Services International Corp. breached their fiduciary duties owed to NASDAQ:ESIC investors in connection with the proposed acquisition.

On May 1, 2012, EasyLink Services International Corporation (Nasdaq:ESIC) announced it has entered into a definitive agreement and plan of merger with OpenTextTM Corporation (Nasdaq:OTEX) (TSX:OTC). Under the terms of the proposed transaction, OpenText will acquire all of the outstanding common stock of EasyLink Services International for $7.25 per share in cash for each share of common stock of EasyLink Services International.

Following the announcement, shares of EasyLink Services International Corp. (NASDAQ:ESIC) jumped from $6.36 per share on Tuesday, May 1 to $7.15 on May 2, 2012.

However, at least one analyst has set the high target price for NASDAQ:ESIC shares at $8.00 per share.

Additionally, EasyLink Services’ financial performance improved lately. Its Total Revenue rose from $81.44million for a 12months period ending on July 31, 2010 to $164.77million for the 12months period ending on July 31, 2011 and its Net Income increased over the respective time periods from $17.09million to $24.70million.

Therefore the investigation for NASDAQ:ESIC investors concerns whether the proposed transaction is unfair to EasyLink Services International stockholders. Specifically, the investigation focuses on whether the EasyLink Services International 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.