December 13, 2011

Block & Leviton LLP Files Suit Against Blue Coat System, Inc.ӳ Board of Directors for Breaches of Fiduciary Duty

BOSTON, December 12, 2011 – Block & Leviton LLP (blockesq.com), a Boston-based law firm representing investors nationwide, has filed suit in the Delaware Chancery Court against the Board of Directors of Blue Coat Systems, Inc. (“Blue Coat” or the “Company”) (Nasdaq: BCSI) for alleged breaches of fiduciary duties in connection with the proposed acquisition of the Company by an investor group headed by Thoma Bravo LLC (the “Bravo Group”). Members of the Bravo Group have also been named as defendants. The transaction is for $25.81 per share, or a net purchase price of $1.3 billion.
The Complaint alleges, among other things, that Blue Coat’s Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed transaction. Blue Coat’s stock has traded significantly higher than the offer price, reaching the low $30 range as recently as February 2011. Moreover, the offer price represents only a 14 percent premium over Blue Coat’s average daily share price over the last year.
If you are a Blue Coat shareholder and have questions about your legal rights, please contact Mark Delaney, Esq. at (617) 398-5650 or email us at info@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 40 years.

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