BOSTON, July 9, 2012 /PRNewswire/ -- Block & Leviton LLP, a Boston-based law firm representing investors nationwide, is investigating possible breaches of fiduciary duties by the Board of Directors of M*Modal Inc. ("M*Modal" or the "Company") (NASDAQ: MODL) concerning its announced merger with One Equity Partners V, L.P., ("One Equity Partners"), the private investment arm of JP Morgan Chase & Co. (NYSE: JPM).
Under the terms of the merger, One Equity Partners will acquire M*Modal for $14.00 per share in cash, which is a paltry premium of only 8% over the Company's share price on July 2, 2012, the last trading day before the merger was announced. The total transaction value is approximately $1.1 billion.
Block & Leviton's investigation seeks to determine, among other things, whether M*Modal's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed merger with One Equity Partners. For example, the average target price by analysts for M*Modal common stock is $16.00 per share. Moreover, the Company's common stock is up nearly 30% this year as it notched record revenue and saw profits rise in the first quarter of 2012.
If you have any information relevant to this investigation, or have questions about your legal rights, please contact Jason M. Leviton of Block & Leviton LLP at (617) 398-5620 or email him at Jason@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.
Contact:BLOCK & LEVITON LLPJason M. Leviton, Esq.(617) 398-5620Jason@blockesq.com
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SOURCE Block & Leviton LLP