An investigation for investors in shares of Saba Software, Inc. was announced and OTCMKTS:SABA stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 10/23/2013 -- An investigation for investors who purchased shares of Saba Software, Inc. (formerly NASDAQ:SABA, now OTCMKTS:SABA) was announced concerning potential violations of Federal Securities Laws by Saba Software, Inc.
If you purchased shares of Saba Software, Inc. (formerly NASDAQ:SABA, now OTCMKTS:SABA), you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether Saba Software, Inc and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Shares of Saba Software, Inc declined nearly 18% per share to close on March 29, 2012, at $ 9.94 per share after Saba Software, Inc. announced on March 28, 2012 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 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.
Then on April 4, 2013, 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 April 9, 2013, the Company was delisted from the Nasdaq GM exchange.
Shares of Saba Software declined from $12.55 per share on March 23, 2012 to as low as $6.61 per share on April 8, 2013.
Those who purchased shares of Saba Software, Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego