NEW YORK, May 2, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Textura Corporation
("TXTR" or the "Company") in connection with the proposed
acquisition of the Company by Oracle Corporation ("Oracle").
On April 28, 2016, the Company
announced it had reached a definitive agreement for Oracle to
acquire all outstanding shares of TXTR in a transaction valued at
approximately $663 million.
Under the terms of the agreement, TXTR shareholders will receive
$26.00 in cash for each TXTR share
they own.
WeissLaw is investigating whether TXTR's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company's shares traded for $30.00, or $4.00
above the offer price, as recently as November 4, 2015. Further, on April 28, 2016, the same day of the acquisition
announcement, TXTR reported impressive financial results in the
first quarter of 2016. It announced revenues of $24.7 million, representing a 28% year-over-year
growth when compared to the $19.2
million reported in the same period of the previous
year.
Given these facts, WeissLaw is investigating whether TXTR's
Board acted in the best interests of TXTR's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own TXTR shares and would like more
information about your right or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP 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 clients and obtained important corporate governance
relief in many of 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 materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP