An investigation on behalf of investors of NYSE:OPWR shares in connection with the proposed takeover was announced and NYSE:OPWR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/09/2016 -- The takeover of Opower Inc is under investigation over potential wrongdoing. The investigation was announced on behalf of investors, who currently hold NYSE:OPWR shares, was announced concerning whether the takeover of Opower Inc. by Oracle for $10.30 per share is unfair to NYSE:OPWR stockholders.
Investors who purchased shares of Opower Inc (NYSE:OPWR) and currently hold any of those NYSE:OPWR shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain Opower directors breached their fiduciary duties owed to NYSE:OPWR investors in connection with the proposed acquisition.
On May 2, 2016, Oracle (NYSE: ORCL) announced that it has entered into an agreement to acquire Opower (NYSE: OPWR) for $10.30 per share in cash. The transaction is valued at approximately $532 million, net of Opower's cash.
However, given that at least one analyst has set the high target price for NYSE:OPWR shares at $20.00 per share and that NYSE:OPWR shares reached as high as $15.02 per share in 2015 in the open market, the investigation concerns whether the offer is unfair to NYSE:OPWR stockholders. More specifically, the investigation concerns whether the Opower Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On May 5, 2016, NYSE:OPWR shares closed at $10.31 per share.
Those who are current investors in Opower Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego