June 1, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Rally Software Development Corp (NYSE:RALY), was announced concerning whether the takeover of Rally Software Development Corp. by CA Technologies for $19.50 per share is unfair to NYSE:RALY stockholders.

The investigation by a law firm concerns whether certain officers and directors of Rally Software Development Corp breached their fiduciary duties owed to NYSE:RALY investors in connection with the proposed acquisition.

On May 27, 2015, CA Technologies (NASDAQ: CA) announced it has signed an agreement to acquire Rally Software Development Corp. (NYSE: RALY) for $19.50 per share, which equates to approximately $480 million, net of cash acquired.

However, given that at least one analyst has set the high target price for NYSE:RALY shares at $24.00 per share, the investigation concerns whether the offer is unfair to NYSE:RALY stockholders. More specifically, the investigation concerns whether the Rally Software Development 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.

Rally Software Development Corp reported that its Total Revenue rose from $41.33 million for the 12 months period that ended on Jan. 31, 2012 to $87.50 million for the 12 months period that ended on January 31, 2015. Shares of Rally Software Development Corp (NYSE:RALY) traded in September 2013 to as high as $32.45 per share.