WeissLaw LLP: Broadsoft Inc. Acquisition Is the Subject of a Legal Investigation

NEW YORK, Oct. 24, 2017 /PRNewswire/ -- The fairness of the proposed acquisition of Broadsoft Inc. ("BSFT" or the "Company") (NASDAQ: BSFT) by Cisco Systems Inc. ("CSCO") (NASDAQ: CSCO) is the subject of an investigation by WeissLaw LLP, a national class action and shareholder rights law firm.  The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of BSFT for agreeing to sell the Company to CSCO.  On October 23, 2017, the Company announced a definitive agreement for CSCO to acquire BSFT in a transaction valued at approximately $1.9 billion.  Under the terms of the agreement, shareholders of the Company will receive $55.00 in cash for each BSFT share they own. 

WeissLaw is investigating whether BSFT's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, BSFT reported a 9% year-over-year increase in total revenue to $88.8 million in the second quarter of 2017.  Moreover, the offer price of $55.00 represents a measly 2% premium over the Company October 20 closing price of $53.90. 

Given these facts, WeissLaw is investigating whether the BSFT Board acted in the best interests of BSFT's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with BSFT.  If you own BSFT shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.  

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.comor fill out the form on our website, http://www.weisslawllp.com/broadsoft-inc/

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SOURCE WeissLaw LLP