TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

BroadSoft Inc (NASDAQ:BSFT) Investor Lawsuit Against Acquisition Filed

  • If you purchased shares of BroadSoft Inc (NASDAQ:BSFT), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
BroadSoft Inc
Security
NASDAQ: BSFT

Case Name
BroadSoft Deal Case 12/06/2017
Type of Lawsuit
Mergers and Acquisition
You must register or login to receive notifications.

Click here to subscribe to BroadSoft Inc.
Summary

An investor, who currently holds shares of BroadSoft Inc (NASDAQ:BSFT), filed a lawsuit in effort to halt the proposed takeover of BroadSoft Inc. by Cisco.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:BSFT stockholders by agreeing to sell BroadSoft Inc cheaply via an unfair process to Cisco.

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, plaintiff claims that the proposed consideration NASDAQ:BSFT shareholders will receive is grossly inadequate and undervalues BroadSoft Inc. BroadSoft Inc (NASDAQ:BSFT) reported that its annual Total Revenue rose from $278.84 million in 2015 to $340.96 million in 2016. In addition, the plaintiff alleges that the process is also unfair NASDAQ:BSFT stockholders.