Levi & Korsinsky, LLP Investigates Breach of Fiduciary Duty by the Board of Epicor Software Corporation
NEW YORK, Oct. 31, 2008 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the board of directors of Epicor Software Corporation ("Epicor" or the "Company") (Nasdaq:EPIC) arising out of their failure to properly consider and their rejection of an offer from Elliott Associates LP ("Elliott Associates") to purchase the Company for $9.50 per share. The Epicor board breached their fiduciary duties because the offer provides shareholders with a 39% premium to the closing price of Epicor shares on the day prior to Elliott Associates' tender offer and because the Epicor board has taken steps to block any unsolicited takeovers, including the offer from Elliott Associates.Filed by admin at October 31st, 2008 under News