According to an FCG filing with the Securities and Exchange Commission yesterday, the suit, which seeks to block the merger, alleges that the company’s board has breached their fiduciary duties in agreeing to the CSC deal, and that the transaction doesn’t value FCG high enough.
CSC is paying $13.00 per share for FCG, a 30% premium of its closing price the day before the deal was announced. In its filing, FCG says the suit is without merit and that it will defend the action vigorously.
