Epiq Systems Explores Strategic Alternatives

(RTTNews) - Epiq Systems Inc. (EPIQ), a provider of managed technology for the legal profession, announced that its Board has commenced a process to explore a full range of strategic and financial alternatives, which may include among other things, acquisitions, divestitures or a going-private or recapitalization transaction, in order to determine a course of action that is in the best interest of all shareholders.

The company said it has not set a timetable for completion of this process and does not intend to disclose further developments unless and until its Board approves a specific action or otherwise concludes the review of strategic alternatives.

In addition, the Board has adopted a short-term shareholder rights agreement, which is intended to ensure all shareholders realize the long-term value of their investment in the company and are protected from unfair or coercive takeover attempts.

The Rights Plan is intended to provide the Board with sufficient time to consider any and all strategic and financial alternatives. Consistent with its limited purpose, the Rights Plan will expire on May 15, 2015 (unless earlier terminated by the Board).

Under the Rights Plan, the company is issuing a dividend of one right on each outstanding share of Epiq's common stock at the close of business on September 29, 2014, Initially, these Rights will not be exercisable and will trade with the shares of the company's common stock.