After a media report stated that BMC Software, Inc. might be a takeover target by Oracle an investigation for investors of BMC Software, Inc. (NASDAQ:BMC) over possible breaches of fiduciary duty in the event of an unfair buyout was announced.

The investigation by a law firm concerns whether certain directors and officers at BMC Software, Inc. (NASDAQ:BMC) will breach their fiduciary duties in the event of a takeover.

A media report on Dec. 23 said that BMC Software (BMC) may be on top of the list of Oracle Corps takeover targets and would help Oracle further build its data center and systems management businesses.
Shares of BMC Software, Inc. (BMC) rose over the past four months from under $35 to per $48 per share. BMC Softwares 12months Total Revenue went from $1.58billion reported on March 31, 2007 to $1.911billion reported on March 31, 2010. Its Net Income almost doubled over the same time frame. While BMC Software, Inc. reported on March 31, 2007 $215.90million Net Income for the past 12months it was able to report on March 31, 2010 $406.1million Net Income.

Therefore the investigation by a law firm concerns whether the BMC Software Board of Directors will undertake an adequate and fair sales process in the event of a takeover and whether they will breach their fiduciary duties to BMC Software, Inc. (NASDAQ:BMC) shareholder by agreeing to an offer that undervalues BMC Software, Inc. and by failing to adequately shop the Company before entering into any transaction. A potential class action lawsuit would seek to maximize the amount of money and information BMC shareholders would receive in a buyout, so the law firm.