The Law Office of Abe Shainberg Launches an Investigation into the Board of Novell, Inc.

The Law Office of Abe Shainberg is investigating the Board of Directors of Novell, Inc. for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Attachmate Corporation.
By: The Law Office of Abe Shainberg
 
 
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Nov. 29, 2010 - PRLog -- The Law Office of Abe Shainberg is investigating the Board of Directors of Novell, Inc. (NasdaqGS: NOVL) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Attachmate Corporation (“Attachmate”).  Under the terms of the transaction, Novell shareholders will receive $6.10 in for each share they own for a total transaction value of approximately $2.2 billion.  Attachmate is owned by an investment group led by Francisco Partners, Golden Gate Capital and Thoma Bravo. The hedge fund Elliott Associates LP, one of Novell's largest shareholders, will become an equity shareholder in Attachment.

The investigation concerns whether the Novell Board of Directors breached their fiduciary duties to Novell stockholders by failing to adequately shop the Company before entering into this transaction and whether Attachmate is underpaying for Novell shares.  Novell stock has traded as high as $6.53 on September 22, 2010 and at least one analyst has set a price target for Novell stock at $7.50 per share.

If you own common stock in Novell and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at as@ashainberglaw.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/novellinc-novl.html.

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.

CONTACT:     
Abe Shainberg, Esq.
132 East 43rd Street, Suite 512
New York, NY 10017   
Tel: (212) 425-7286
Fax: (866) 699.3880
Email: as@ashainberglaw.com
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