Purported Class Action Lawsuit Filed Against Kanbay and Its Directors

A purported class Action Lawsuit has been filed in the Circuit Court of Cook County, Illinois, by a stockholder of Kanbay, alleging that Kanbay and its directors breached their fiduciary duties to the stockholders of Kanbay in the negotiation of the proposed merger transaction between Cap Gemini SA, Capgemini Financial Services, Inc. and Kanbay, which was announced on October 26, 2006.

The complaint alleges that the price negotiated is inadequate, that the directors obtained benefits that are not available to the public stockholders and that certain material disclosures are omitted from the preliminary proxy statement Kanbay filed on November 13, 2006 with the Securities and Exchange Commission. The complaint also alleges that Cap Gemini aided and abetted the alleged breaches of fiduciary duty. The complaint seeks monetary damages and injunctive relief.

Link [www.finanznachrichten.de/nachrichten-2006-12/artikel-7400213.asp]


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