NEW YORK, May 28, 2015 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Rally Software Development Corp. (NYSE: RALY) ("Rally" or the "Company") on behalf of its shareholders. CA Technologies announced it has signed a definitive agreement to acquire Rally for $19.50 per share, which equates to approximately $480 million, net of cash acquired.

Our investigation has determined that price of only $19.50 per share unfairly under-values the true going forward inherent value of Rally and that shareholders are not receiving the maximum value for their shares. Indeed, at least one analyst has opined that the Company is worth at least $24 per share, and the Company has over $66 million in cash on its balance sheet or $2.60 per share. The investigation further seeks to determine whether the senior management of Rally is entering into this deal for their own self-interests to the detriment of the Company's shareholders.

If you are a shareholder of Rally and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us at no cost at:

Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: contact@tripplevy.com
www.tripplevy.com/participate-in-an-action
www.tripplevy.com

Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the "50 Elite Trial Lawyer Firms" and one of the "50 Leading Plaintiff Firms in America." Attorney advertising. Prior results do not indicate a similar outcome.

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SOURCE Tripp Levy PLLC