SFSF Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of SuccessFactors, Inc. Concerning the Sale to SAP America, Inc.

DALLAS, Dec. 6, 2011 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of SuccessFactors, Inc. ("SuccessFactors" or "SFSF") (NASDAQ: SFSF) to SAP, America, Inc., a subsidiary of SAP AG for shareholders.  Under the proposed acquisition agreement, SuccessFactors' shareholders will receive $40.00 in cash for each share of SFSF stock owned, which is less than the price that SuccessFactors' shares traded as recently as late April 2011, and significantly lower than analysts' target price for the company.

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If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [email protected], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [email protected].  There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction valued at approximately $3.4 billion. 

The investigation centers on whether SuccessFactors' shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues SuccessFactors' stock, and whether SuccessFactors' board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, "We are concerned that the transaction may significantly undervalue SuccessFactors stock, and our lawsuit will seek to obtain the highest share price for all shareholders." In particular, SuccessFactors shares closed as high as $40.27 per share as recently as April 26, 2011.  In addition, at least one analyst has set a target price for SuccessFactors/SFSF stock at $45.00 per share. 

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

SOURCE Powers Taylor, LLP