The Law Firm of Weiss & Lurie Investigates SuccessFactors, Inc.
08 December 2011 - 10:20AM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of SuccessFactors, Inc.
(“SuccessFactors” or the “Company”) (Nasdaq: SFSF) arising from its
agreement to be acquired by SAP America, Inc., a subsidiary of SAP
AG (“SAP”). The proposed transaction is valued at approximately
$3.4 billion.
Under the terms of the definitive merger agreement entered into
by the parties, SAP will commence a tender offer to acquire all of
the outstanding shares of SuccessFactors for $40.00 per share in
cash. The tender offer is scheduled to commence within 10 business
days of December 3, 2011.
Weiss & Lurie is investigating whether SuccessFactors’ Board
breached its fiduciary duty to its shareholders in approving the
transaction. The investigation includes whether the proposed
transaction provides adequate value to SuccessFactors’ shareholders
and whether the Board failed to adequately shop the Company before
entering into the agreement. SuccessFactors’ stock has traded at
more than the $40.00 per share agreed to by the Board and prior to
the announcement of the deal, at least one analyst had set the
price target for the stock at $45 per share.
If you are a shareholder of SuccessFactors and would like more
information about your rights as a shareholder or additional
information concerning our investigation, please contact Richard A.
Acocelli either by email at info@weisslurie.com or by telephone at
(888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (including
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at info@weisslurie.com or fill out the form on our
website, http://www.weisslurie.com/contact/report_fraud/.Attorney
Advertising. Past results do not guarantee a similar outcome.
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