A lawsuit was filed by investor in shares of Sapient Corporation (NASDAQ:SAPE) in effort to stop the proposed takeover and NASDAQ:SAPE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/02/2014 -- An investor, who currently holds shares of Sapient Corporation (NASDAQ:SAPE), ), filed a lawsuit in effort to halt the proposed takeover of Sapient Corporation by Publicis Groupe for $25.00 per share.
Investors who purchased shares of Sapient Corporation (NASDAQ:SAPE) and currently hold any of those NASDAQ:SAPE shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SAPE stockholders by agreeing to sell Sapient Corporation too cheaply via an unfair process to Publicis Group
On November 3, 2014, Publicis Group and Sapient Corporation (NASDAQ:SAPE)announced that they have entered into an agreement under which Publicis Groupe will acquire Sapient Corporation in an all-cash transaction for $25.00 per share.
However, the plaintiff claims that the $25-offer is too low and undervalues Sapient Corporation. Indeed, Sapient Corporation's performance improved recently. In fact, Sapient Corporation reported that its annual Total Revenue rose from over $1.16 billion in 2012 to over $1.3 billion in 2013 and that its respective Net Income increased from $58.82 million to $77.73 million.Shares of Sapient Corporation (NASDAQ:SAPE) grew from $9.78 per share in August 2012 to as high as $17.56 per share in March 2014.
In addition, the plaintiff alleges that the process is also unfair to NASDAQ:SAPE stockholders. Indeed, in connection with the tender offer, Jerry A. Greenberg, J. Stuart Moore, and Alan J. Herrick have already entered into a tender and support agreement with Publicis Groupe pursuant to which they have agreed to tender an aggregate of approximately 18% of Sapient's outstanding shares in the offer
On November 28, 2014, NASDAQ:SAPE shares closed at $24.70 per share.
Those who are current investors in Sapient Corporation shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego