BALA CYNWYD, Pa., May 5, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of I-many, Inc. ("I-many" or the "Company") (Nasdaq:IMNY) relating to the proposed acquisition by affiliates of LLR Partners ("LLR"), a private equity firm based in Philadelphia, PA.
Under the proposed agreement, LLR has agreed to pay I-many shareholders $0.43 a share for each I-many share they own. The offer does not appear to be fair to I-many shareholders given that the Company's stock was trading at over $0.70 per share as recently as October 2008. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to I-many's board's approval of the proposed merger.
If you own shares of I-many and wish to discuss the legal ramifications of the proposed acquisition by LLR, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.