A lawsuit was filed for investors in shares of Qlik Technologies Inc (NASDAQ:QLIK) in connection with the proposed takeover was announced and NASDAQ:QLIK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/14/2016 -- An investor, who currently holds shares of Qlik Technologies Inc, filed a lawsuit in effort to halt the proposed takeover of Qlik Technologies Inc.
On June 2, 2016, Qlik Technologies Inc (NASDAQ:QLIK) announced that it has entered into a definitive agreement to be acquired by leading private equity investment firm Thoma Bravo, LLC in an all-cash transaction valued at approximately $3.0 billion.
Investors who purchased shares of Qlik Technologies Inc (NASDAQ:QLIK) and currently hold any of those NASDAQ:QLIK shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:QLIK stockholders by agreeing to sell Qlik Technologies Inc too cheaply via an unfair process to Thoma Bravo, LLC.
Under the terms of the agreement, Qlik shareholders will receive $30.50 in cash for each share of Qlik common stock they hold.
However, plaintiff claims that the proposed consideration NASDAQ:QLIK shareholders will receive is grossly inadequate and undervalues Qlik Technologies Inc. Indeed, at least one analyst has set the high target price for NASDAQ:QLIK shares at $40.00 per share and that NASDAQ:QLIK shares traded in August 2015 in the open market as high as $41.92 per share. In addition, the plaintiff alleges that the process is also unfair to Qlik Technologies Inc stockholder.
On July 13, 2016, shares of Qlik Technologies Inc (NASDAQ:QLIK) closed at $29.98 per share.
Those who purchased shares of Qlik Technologies Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego