Key Developments: Telanetix Inc (TNIX.PK)
7.02USD
13 May 2013
$0.01 (+0.14%)
$7.01
$7.02
$7.02
$7.02
1,200
1,230
$7.40
$0.24
Latest Key Developments (Source: Significant Developments)
Law Office of Brodsky & Smith, LLC Announces Investigation Of Telanetix Inc
Law Office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Telanetix, Inc. (Telanetix or the Company) relating to the proposed acquisition by Intermedia. Under the terms of the transaction, Telanetix shareholders will receive only $7.40 in cash for each Telanetix stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Telanetix for not acting in the Company`s shareholders' best interests in connection with the sale process to Intermedia. The focus of the investigation is whether the Telanetix`s Board of Directors breached their fiduciary duties by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction. Full Article
Law Office of Brodsky & Smith, LLC Announces Investigation Of Telanetix Inc
Law Office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Telanetix, Inc. (Telanetix or the Company) relating to the proposed acquisition by Intermedia. Under the terms of the transaction, Telanetix shareholders will receive only $7.40 in cash for each Telanetix stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Telanetix for not acting in the Company's shareholders' best interests in connection with the sale process to Intermedia. The focus of the investigation is whether the Telanetix's Board of Directors breached their fiduciary duties by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction. Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Board Of Directors Of Telanetix Inc
Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, announced that it is investigating the Board of Directors of Telanetix Inc for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Intermedia in an all-cash deal valued at approximately $55 million. Under the terms of the proposed transaction, Telanetix’s stockholders will receive $7.40 in cash for each share of Telanetix’s common stock they own. The investigation focuses on whether Telanetix’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Telanetix’s shareholders. Full Article
Law Offices of Howard G. Smith Announces Investigation of Telanetix Inc
Law Offices of Howard G. Smith announced that it is investigating potential claims against the Board of Directors of Telanetix Inc (Telanetix or the Company) related to the proposed acquisition of the Company by Intermedia. The transaction is valued at approximately $55 million including debt. The investigation concerns whether the Board of Directors of Telanetix breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Full Article
Levi & Korsinsky, LLP Launches Investigation into Possible Breaches of Fiduciary Duty by Board of Telanetix Inc
Levi & Korsinsky announced that it is investigating the Board of Directors of Telanetix Inc (Telanetix or the Company) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Intermedia. Under the terms of the transaction, Telanetix shareholders will receive $7.40 for each share of Telanetix stock they own. The transaction has total approximate value of $55 million. The investigation concerns whether the Telanetix Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Intermedia is underpaying for Telanetix shares, thus unlawfully harming Telanetix stockholders. Full Article
Law Firm Brower Piven Announces Investigation Of Telanetix Inc
The securities litigation firm of Brower Piven, announced that it has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Telanetix Inc and other violations of state law by the board of directors of Telanetix relating to the proposed acquisition of the Company by Intermedia Holdings, Inc. The firm`s investigation seeks to determine, among other things, whether the board of directors of Telanetix breached their fiduciary duties by failing to maximize shareholder value. Under the terms of the proposed transaction, Telanetix shareholders will receive $7.40 in cash for each share of common stock they own. The transaction is being valued at $55 million. Full Article
Briscoe Law Firm and Powers Taylor, LLP Investigate Sale Of Telanetix Inc
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP announced that they are investigating the sale of Telanetix Inc (Telanetix) to Intermedia for shareholders. Under the terms of the proposed deal valued at approximately $55 million (subject to reduction for potential purchase price adjustments), Telanetix shareholders are estimated to receive approximately $7.40 in cash for each share of stock owned. The Telanetix sale investigation centers on whether Telanetix`s shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Telanetix`s stock, and whether Telanetix`s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Full Article
Pomerantz Law Firm Investigates Claims On Behalf Of Investors Of Telanetix Inc
Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it is investigating claims on behalf of investors of Telanetix Inc. (Telanetix or the Company) concerning the proposed acquisition of Telanetix by Intermedia in a transaction valued at approximately $55 million in cash. The investigation concerns whether the Telanetix directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Telanetix shareholders will be entitled to receive $7.40 per share in cash for each share of Telanetix common stock. However, the price to EBITDA and revenue multiples are below those of comparable transactions. Full Article
Intermedia To Acquire Telanetix Inc
Intermedia and Telanetix Inc announced that they have entered into a definitive merger agreement under which Intermedia will acquire Telanetix. The aggregate consideration to be paid by Intermedia will equal approximately $55 million, which amount includes the assumption of approximately $13 million in net debt and certain liabilities, and is subject to reduction for potential purchase price adjustments. Subject to such potential purchase price adjustments, it is currently estimated that each Telanetix common shareholder owning shares immediately prior to the transaction would be entitled to receive approximately $7.40 per share in cash. Full Article
Telanetix Inc Reiterates FY 2013 Guidance
Telanetix, Inc. announced that it has reiterated fiscal 2013 financial guidance to achieve total revenue of between $31.5-$32.0 million, adjusted EBITDA of between $4.50-$4.75 million. Full Article
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