Ademi & O’Reilly, LLP is investigating Majesco (Nasdaq: MJCO) for possible breaches of fiduciary duty and other violations of the law in connection with the sale to Thoma Bravo.
Ademi & O’Reilly, LLP alleges Majesco’s financial outlook is improving and yet shareholders will receive only $13.10 for each Majesco share. The merger agreement unreasonably limits competing bids for Majesco by prohibiting solicitation of further bids, and imposing a termination penalty if Majesco accepts a superior bid. Majesco insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Majesco’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Majesco.