WILMINGTON, Del., Aug. 23, 2016 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed by another law firm on behalf of stockholders of Epiq Systems, Inc. (NASDAQ:EPIQ) (“Epiq” or the “Company”) relating to the sale of the Company to OMERS Private Equity (“OMERS”).
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook – www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On August 2, 2016, the two parties announced the signing of a definitive merger agreement pursuant to which OMERS will acquire Epiq in a merger in a deal worth $1 billion. As a result of the merger, Epiq shareholders are only anticipated to receive $16.50 per share in cash in exchange for each share of Epiq.
The consideration Epiq shareholders are expected to receive is inadequate. While the Company claims that shareholders will receive a significant premium for their shares, the Company recently traded as high as $15.33 as of June 6, 2016, which represents only a 7.6% premium to the merger consideration. Our investigation has also revealed that the process leading up to the announcement of the merger appears to have significant conflicts of interest with Epiq management, thus making the process and consideration unfair.
On August 2, 2016, an Epiq shareholder represented by another law firm filed a class action in the Circuit Court of Jackson County, 16th Judicial District, Missouri, Case No. 1616-CV18720, challenging the merger.
If you own shares of Epiq and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/epiq-class-action-investigation or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook – www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.