SAN DIEGO, May 31, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of SciQuest, Inc. (NASDAQ: SQI)
breached their fiduciary duties in connection with the proposed
sale of the Company to Accel-KKR.
Additional Information:
SciQuest provides cloud-based business automation solutions for
spend management.
On May 31, 2016, SciQuest
announced it had signed a definitive merger agreement with
Accel-KKR. Under the terms of the agreement SciQuest shareholders
will receive $17.75 per share in cash
for each share of SciQuest common stock.
The investigation concerns whether the SciQuest board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for SciQuest
shares of common stock. Nationally recognized Johnson & Weaver
is investigating whether the proposed deal price represents
adequate consideration.
If you are a shareholder of SciQuest 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