WeissLaw LLP: Saba Software, Inc. Acquisition By Vector Capital May Not Be In The Best Interest of SABA Shareholders
NEW YORK, Feb. 12, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Saba Software, Inc. ("SABA" or the "Company") by Vector Capital ("Vector") is being investigated by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of SABA for agreeing to sell the Company to Vector. On February 10, 2015, the Company announced a definitive agreement for Vector to acquire SABA in a transaction valued at approximately $268 million. Under the terms of the agreement, SABA shareholders will receive $9.00 in cash for each SABA share they own.
WeissLaw is investigating whether SABA's Board acted to maximize shareholder value prior to entering into the agreement. Notably, prior to the announcement, at least one analyst set a target price of $17.00 per share, or $8.00 above the offer price. In addition, the Company's stock traded at $14.50 per share as recently as November 10, 2014.
Given these facts, WeissLaw is investigating whether SABA's Board acted in the best interests of SABA's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Vector. If you own SABA shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771 or by email at [email protected].
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 [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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WeissLaw LLP
Joshua Rubin
Kelly Keenan
1500 Broadway, 16th Floor
New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslawllp.com
[email protected]
SOURCE WeissLaw LLP
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