An investigation on behalf of current investors of Diamond Mgt. & Technology Consultants In (NASDAQ:DTPI) over possible shareholder claims based on breach of fiduciary duty in connection with takeover attempt by PricewaterhouseCoopers LLP was announced.

Diamond Management & Technology Consultants, Inc, located in Chicago, Illinois, is a management and technology consulting firm. On Tuesday, Aug 24, 2010 Diamond Management & Technology Consultants, Inc. (Nasdaq: DTPI) and PricewaterhouseCoopers LLP announced that they have entered into a merger agreement whereby PricewaterhouseCoopers LLP will acquire all of the outstanding common shares of Diamond Management & Technology Consultants, Inc for $12.50 per share in cash or a transaction value of approximately $378million.

According to Diamond Management & Technology Consultants its board of directors has approved the transaction and the offer represents a premium of 31% to Diamond's closing stock price of $9.54 on August 23, 2010.

Shares of Diamond Mgt. & Technology Consultants Inc (NASDAQ:DTPI) traded on the day before the news at $9.69 per share and jumped in response to the news to $12.46 per share.

But DTPI shares traded as early as August 03, 2010 at $10.91 per share, shrinking an adjusted premium to only 12.7%. In June 2010 DTPI shares traded even as high as $11.36 per share, leaving Diamond Management & Technology Consultants investors with only a meager premium of 9%. During 2007 Diamond Management & Technology Consultants shares traded at over $15 per share and at least one analyst has set a $14.00 price target for Diamond shares.

The investigation by a law firm concerns whether PricewaterhouseCoopers LLP, as well as the directors of Diamond Mgt. & Technology Consultants breached their fiduciary duties by not acting in Diamond Mgt. & Technology Consultants Inc (NASDAQ:DTPI) shareholders' best interests in connection with the sale process of Diamond Mgt. & Technology Consultants (DTPI), whether the Diamond Management & Technology Consultants Board of Directors breached their fiduciary duty to Diamond Management & Technology Consultants (NASDAQ:DTPI) stockholders by failing to adequately shop the Company prior to entering into the agreement, whether the Board of Directors breach their fiduciary duties by not seeking a deal that will provide better value for Diamond Management & Technology Consultants Inc (NASDAQ:DTPI), and whether PricewaterhouseCoopers LLP is underpaying for Diamond Mgt. & Technology Consultants (DTPI)), thus unlawfully harming DTPI stockholders.

Diamond Mgt. & Technology Consultants Inc reported on March 31, 2007 for the past 12 months $190.27million Total Revenue , on March 31, 2008 $205.06million, on March 31, 2009, $174.98million, and on March 31, 2010, $209.94million.