WeissLaw LLP: The Sale of Informatica Corporation Is the Subject of a Legal Investigation
NEW YORK, April 9, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Informatica Corporation ("INFA" or the "Company") by Permira and the Canada Pension Plan Investment Board (collectively, the "Consortium") 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 INFA for agreeing to sell the Company to the Consortium. On April 7, 2015, the Company announced a definitive agreement for the Consortium to acquire INFA in a transaction valued at approximately $5.3 billion. Under the terms of the agreement, INFA shareholders will receive $48.75 in cash for each INFA share they own.
WeissLaw is investigating whether INFA's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a price target of $52.00 per share, or $3.25 above the offer price. Additionally, the offer price represents a premium of less than 6% over the Company stock's April 6, 2015 trading price of $46.00.
Given these facts, WeissLaw is investigating whether INFA's Board acted in the best interests of INFA's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with the Consortium. If you own INFA 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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