Rigrodsky & Long, P.A. Investigates Phoenix Technologies Ltd. Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Phoenix Technologies Ltd. ("Phoenix” or the "Company”) (Nasdaq: PTEC) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by Marlin Equity Partners ("Marlin”) in a transaction with a value of approximately $139 million (http://www.rigrodskylong.com/news/PhoenixTechnologiesLtd-PTEC).

Under the proposed agreement, Phoenix shareholders will receive $3.85 cash for each share of Phoenix common stock they own. The investigation concerns whether Phoenix’s board of directors failed to adequately shop the Company and obtain the best price possible for Phoenix’s shareholders before entering into the agreement with Marlin. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $4.00 per share for Phoenix stock.

As recent as August 2, 2010, Phoenix released its fiscal third quarter 2010 financial results wherein Tom Lacey, the Company’s President and CEO, stated: "We remain confident in our growth prospects… [W]e now have a firmer grasp on our near- and long-term revenue opportunities and have strengthened our internal process for projecting our business. We remain focused on creating sustainable profitability and additional shareholder value.”

If you own the common stock of Phoenix and purchased your shares before August 17, 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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