A lawsuit was filed for investors in shares of Clicksoftware Technologies Ltd (NASDAQ:CKSW) in effort to halt the proposed takeover and NASDAQ:CKSW stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/17/2015 -- An investor who currently holds shares of Clicksoftware Technologies Ltd (NASDAQ:CKSW), filed a lawsuit in effort to halt the proposed takeover of Clicksoftware Technologies Ltd. for $12.65 per share.
Investors who purchased shares of Clicksoftware Technologies Ltd (NASDAQ:CKSW) and currently hold any of those NASDAQ:CKSW shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CKSW stockholders by agreeing to sell Clicksoftware Technologies Ltd too cheaply via an unfair process.
On April 30, 2015, Clicksoftware Technologies Ltd (NASDAQ:CKSW) announced that it has signed an agreement to be acquired by private funds managed by Francisco Partners Management L.P. in an all-cash transaction valued at approximately $438 million. Under the terms of the agreement, private funds managed by Francisco Partners Management L.P will acquire all of Clicksoftware Technologies Ltd's (NASDAQ:CKSW) outstanding ordinary shares for $12.65 per share in cash.
However, the plaintiff claims that the proposed consideration NASDAQ:CKSW unitholders will receive is grossly inadequate and undervalues Clicksoftware Technologies Ltd. Clicksoftware Technologies Ltd (NASDAQ:CKSW) reported that its annual Total Revenue rose from $103.18 million in 2013 to $126.21 million in 2014 and that its Net Loss declined from $4.16 million in 2013 to $3.03 million in 2014. In addition, the plaintiff claims that the process is also unfair to NASDAQ:CKSW stockholders.
Shares of Clicksoftware Technologies Ltd (NASDAQ:CKSW) closed on June 16, 2015, at $12.60 per share.
Those who are current investors in Clicksoftware Technologies Ltd (NASDAQ:CKSW) shares 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