September 23, 2013 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of BlackBerry Ltd (NASDAQ:BBRY) shares, was announced concerning whether the takeover of BlackBerry Ltd by a consortium to be led by Fairfax Financial Holdings Limited is unfair to NASDAQ:BBRY stockholders.

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

On Friday, Sept. 20, 2013, BlackBerry Ltd announced its preliminary second quarter fiscal 2014 results. On Monday, Sept. 23, 2013, BlackBerry Ltd announced that it has signed a letter of intent agreement under which a consortium to be led by Fairfax Financial Holdings Limited has offered to acquire the company subject to due diligence. BlackBerry Ltd said that the letter of intent contemplates a transaction in which BlackBerry shareholders would receive U.S. $9 in cash for each share of BlackBerry share they hold, in a transaction valued at approximately U.S. $4.7 billion.

However, given that shares of BlackBerry Ltd (NASDAQ:BBRY) traded on Sept. 20, 2013, at $10.488 per share, respectively $11.57 per share on Sept. 9, 2013, the investigation concerns whether the BlackBerry 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.

NASDAQ:BBRY shares traded in early 2013 as high as $17.90 and as recently as June 26, 2013 as high as $14.91 per share.

Following the potential takeover news shares of BlackBerry Ltd (NASDAQ:BBRY) jumped to $9.06 per share during Sept. 23, 2013.