Rigrodsky & Long, P.A. Investigates NaviSite, Inc. Going Private Offer

  • Do you own NaviSite, Inc. common stock?
  • Did you purchase your shares before July 19, 2010?
  • Do you feel Atlantic Investors, LLC's offer is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims the board of directors of NaviSite, Inc. concerning the Company’s receipt of a proposal from Atlantic Investors, LLC, for a going private transaction.

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Rigrodsky & Long, P.A. Investigates NaviSite, Inc. Going Private Offer

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of NaviSite, Inc. (“NaviSite” or the “Company”) (Nasdaq: NAVI) concerning the Company’s receipt of a proposal from Atlantic Investors, LLC (“Atlantic”), for a going private transaction (the “Proposal”).

The investigation concerns whether NaviSite’s board of directors is adequately shopping the Company and working to obtain the best price possible for NaviSite’s shareholders.  The Proposal contemplates the acquisition of all of the outstanding shares of common stock of NaviSite not currently owned by Atlantic for $3.05 per share in cash, or approximately $72 million.  Atlantic already owns approximately 36.6% of NaviSite’s outstanding common stock and approximately 33% in voting power of NaviSite’s outstanding capital stock.  Furthermore, Arthur P. Becker, NaviSite’s CEO and a member of its board of directors, is a managing member of Madison Technology LLC, a managing member of Atlantic.  Additionally, Andrew Ruhan, the Chairman of NaviSite’s board of directors, holds an equity interest in Unicorn Worldwide Holdings Limited, also a managing member of Atlantic. 

In response to Atlantic’s Proposal, NaviSite’s board of directors has formed a special committee of independent directors to consider the Proposal and any alternative thereto.

If you own the common stock of NaviSite and purchased your shares before July 19, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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