San Diego, CA -- (SBWIRE) -- 01/28/2015 -- A lawsuit was filed by a current investor in shares of Saba Software, Inc. (OTCMKTS:SABA, formerly NASDAQ:SABA) against certain directors.

Investors who purchased shares of Saba Software, Inc.(OTCMKTS:SABA) in 2008 or earlier and currently hold any of those SABA shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff seeks equitable and injunctive relief. He claims that Saba Software, Inc has acknowledged that it has been delinquent in providing its shareholders with crucial information about the Company, yet it has offered shareholders no assurance regarding when, if ever, it will correct the situation. The plaintiff seeks the intervention of the Court to compel Saba Software, Inc to provide the laintiff and the other shareholders of Saba Software, Inc with the information to which they are entitled as owners of the Company and to compel Saba Software, Inc and its Board of Directors promptly to schedule, provide notice of, and hold an annual meeting of shareholders.

On March 28, 2012 Saba Software, Inc. announced a delay in releasing its earnings for its fiscal third quarter 2012, "to allow the Company additional time to complete an internal review of the accounting treatment of certain international transactions."

On October 4, 2012, Saba Software, Inc. announced it has delayed filing the Company's Form 10-Q for the quarter ended February 29, 2012 and its Form 10-K for the fiscal quarter ended May 31, 2012, and further expects that it will delay filing the Company's Form 10-Q for the quarter ended August 31, 2012, as a result of an accounting review and pending restatement.

On January 18, 2013, Saba Software, Inc. announced that that on January 14, 2013, it was advised by its current independent registered public accounting firm, that it will resign as Saba Software's independent registered public accounting firm effective upon completion of the audit for the fiscal year ended May 31, 2012, including the restatement of the financial statements for the fiscal years ended May 31, 2011 and 2010, and completion of their review of the Company's unaudited financial statements for the three months ended August 31, 2012 and for the six months ended November 30, 2012.

On March 1, 2013, Saba Software, Inc. announced a leadership transition under which Bobby Yazdani and the Board have agreed he will step down as Chairman, CEO and Director, effective March 1, 2013.

On April 4, 2013, Saba Software, Inc. announced that it has determined that it will be unable to regain compliance with the Company's SEC filing requirements for continued listing of its common stock on the NASDAQ Global Select Market by the previously reported April 4, 2013 deadline set by The NASDAQ Stock Market LLC Hearings Panel.

On August 12, 2013 Saba Software, Inc announced that it has appointed Shawn Farshchi as its President and Chief Executive Officer and a member of the board of directors effective as of August 6, 2013.

On September 17, 2013 Saba Software, Inc provided an update on its business momentum and its progress on the restatement of certain historical financial results. Among other things, Saba Software, Inc said that the Company is not yet in a position to report detailed financial results for fiscal year 2013, ended May 31, 2013.

On January 21, 2014 Saba Software, Inc provided an update on its business momentum and its progress on the restatement of historical financial results. Among other things, Saba Software, Inc said that the Company is not yet in a position to report detailed financial results for the first six months of fiscal year 2014, ended November 30, 2013.

On June 2, 2014, Saba Software, Inc. announced that on May 28, 2014, Michael Abbott submitted his resignation from the Board of Directors of Saba Software, Inc. (the "Company"), effective immediately.

On April 2, 2014 Saba Software, Inc provided an update on its business momentum and its progress on the restatement of historical financial results. Among other things, Saba Software, Inc said htat the Company is not yet in a position to report detailed financial results for its third quarter of fiscal year 2014, ended February 28, 2014, as a result of its pending restatement of certain historical financial results:

On July 14, 2014 Saba Software, Inc provided an update on its business momentum and its progress on the restatement of historical financial results. Among other things, Saba Software, Inc said that the Company is not yet in a position to report detailed financial results for its fourth quarter and fiscal year 2014, ended May 31, 2014.

On September 30, 2014 Saba Software, Inc provided an update on its business momentum and its progress on the restatement of historical financial results. Among other things, Saba Software, Inc said the Company is not yet in a position to report detailed financial results for its first quarter of fiscal year 2015, ended August 31, 2014, as a result of its pending restatement of certain historical financial results.

On December 15, 2014 Saba Software, Inc provided an update on the Company and its progress on the restatement.. Saba Software, Inc said that as a result of the ongoing complexity of the work required to complete the restatement, the Company's current expectation regarding anticipated completion of the restatement work has shifted to an estimated time period no earlier than the Company's first quarter of fiscal year 2016 (commencing June 1, 2015).

Those who purchased shares of Saba Software, Inc.(OTCMKTS:SABA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com