SAN DIEGO, May 2, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Opower, Inc. (NYSE: OPWR)
breached their fiduciary duties in connection with the proposed
sale of the Company to Oracle Corporation (NYSE: ORCL).
Additional Information:
Opower provides cloud-based software to the utility industry in
the United States.
On May 2, 2016, Opower announced
entered into a definitive agreement to be acquired by Oracle, for
$10.30 per share in cash.
The investigation concerns whether Opower's board failed to
satisfy their duties to the Company's shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company's shares of common stock. Nationally recognized
Johnson & Weaver, which focuses its practice on shareholder
rights, is investigating whether the proposed deal price represents
adequate consideration; especially given one Wall Street analyst
has a $20.00 price target on the
stock. Opower's 52-week high was $12.97.
If you are a shareholder of Opower and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If emailing, please
include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP