Morgan & Morgan Announces That a Shareholder Class Action Has Been Filed in Connection With the Sale of Saba Software, Inc. -...
February 24 2015 - 03:51PM
Morgan & Morgan announces that a shareholder class action has
been filed in the Delaware Court of Chancery against the Board of
Directors of Saba Software, Inc. ("Saba" or the "Company") (Other
OTC:SABA) concerning the proposed acquisition of the Company by
Vector Capital ("Vector") for about $300 million.
Under the terms of the transaction, Saba shareholders will
receive $9.00 in cash for each share of Saba Software stock they
own. The investigation concerns whether the Board of Saba Software
breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into this
transaction, and whether Vector is underpaying for Saba shares.
Saba stock has traded above the offer price as recently as February
6, 2015, and traded as high as $13.70 per share in December
2014.
If you purchased Saba shares, and want more information about
the Saba takeover lawsuit, contact Morgan & Morgan at 1(800)
732-5200 or email info@morgansecuritieslaw.com
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law
firms. In addition to shareholder rights, the firm also practices
in the areas of antitrust, personal injury, consumer protection,
overtime, and product liability. All of the Firm's legal
endeavors are rooted in its core mission: provide investor and
consumer protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar
outcome.
CONTACT: Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
Suite 2001
New York, NY 10036
1-800-732-5200
info@morgansecuritieslaw.com