SuccessFactors, Inc. Investor Lawsuit Against Takeover by SAP AG Announced by Shareholders Foundation
(firmenpresse) - SAN DIEGO, CA -- (Marketwire) -- 12/12/11 -- The Shareholders Foundation, Inc. announces that an investor filed a lawsuit in State Court for current investors in the SuccessFactors, Inc. (SFSF) in effort to block the proposed takeover of Success Factors, Inc. by SAP AG.
Those who currently are investors in shares of SuccessFactors, Inc. (SFSF) and purchased SFSF shares before December 2, 2011, should contact the Shareholders Foundation, Inc. by e-mail at or call +1 (858) 779-1554.
On Saturday, December 3, 2011, SuccessFactors, Inc. (SFSF) and SAP AG (SAP) announced that SAP's subsidiary, SAP America, Inc., has entered into a merger agreement with SuccessFactors, pursuant to which a subsidiary of SAP would offer to acquire all outstanding shares of common stock of SuccessFactors (SFSF) for $40.00/per share in cash, representing an enterprise value of approximately $3.4 billion. SuccessFactors, Inc said that the $40 per share offer represents a 52% premium both over the December 2nd closing price and the one month volume weighted average price per share.
Following the announcement SFSF shares closed on Monday at $39.75 per share.
However, the plaintiff alleges that the $40.00 offer undervalues SuccessFactors, Inc. In fact, SFSF shares traded as high as $40.27 per share as recently as April 2011, thus slightly above the current offer and at least one analyst has set the high target price at $45 per share, thus well above the current offer.
Those who currently are investors in shares of the SuccessFactors, Inc. (SFSF) and purchased their shares before the announcement should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Trevor Allen
+1 (858) 779-1554
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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Datum: 12.12.2011 - 14:37 Uhr
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News-ID 95965
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