A lawsuit was filed for investors in NASDAQ:SAAS shares in connection with the proposed takeover of Incontact Inc and NASDAQ:SAAS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/27/2016 -- The Shareholders Foundation announced that an investor who currently holds shares of Incontact Inc (NASDAQ:SAAS), filed a lawsuit in effort to halt the proposed takeover of cloud contact center software solutions provider Incontact Inc. by NICE Systems for $14.00 per share.
Investors who purchased shares of Incontact Inc (NASDAQ:SAAS) and currently hold any of those NASDAQ:SAAS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SAAS stockholders by agreeing to sell Incontact Inc too cheaply via an unfair process to NICE Systems
On May 18, 2016, Midvale, UT based Incontact Inc (NASDAQ:SAAS) announced that it has entered into an agreement to be acquired by NICE Systems (NASDAQ: NICE). Under the terms of the agreement, inContact stockholders will receive $14.00 per share in cash.
However, plaintiff claims that the proposed consideration NASDAQ:SAAS shareholders will receive is grossly inadequate and undervalues Incontact Inc. Indeed, at least one analyst has set the high target price for NASDAQ:SAAS shares at $16.00 per share. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:SAAS stockholders.
On June 24, 2016, NASDAQ:SAAS shares closed at $13.89 per share.
Those who are current investors in Incontact Inc 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