NCI, Inc.
NCI (NCIT) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of NCI, Inc.
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of NCI, Inc. (NASDAQGS: NCIT) (“NCI” or the “Company”) relating to the sale of the Company to affiliates of private equity firm H.I.G. Capital, LLC (“H.I.G.”). On July 3, 2017, the two parties announced the signing of a definitive merger agreement pursuant to which H.I.G. will acquire NCI in a merger, via a tender offer, worth $283 million. As a result of the merger, NCI shareholders are only anticipated to receive $20.00 per share in cash in exchange for each share of NCI.
Andrews & Springer’s investigation so far has revealed that the consideration NCI shareholders are expected to receive is inadequate. The $20.00 per share consideration is actually below NCI’s June 30, 2017 closing price of $21.10 per share. The deal consideration is also significantly less than the $24.00 price target set by an analyst at SunTrust Robinson Humphrey on June 23, 2017 as well as the $24.00 target price set by an analyst at Cowen and Company on June 8, 2017. Our investigation has also revealed that the process leading up to the announcement of the merger appears to have significant conflicts of interest thus making the process and consideration unfair.