A lawsuit was filed for investors in shares of Apptio, Inc. (NASDAQ: APTI) in connection with the proposed takeover and NASDAQ: APTI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/18/2018 -- An investor, who currently holds shares of Apptio, Inc. (NASDAQ: APTI), filed a lawsuit against the takeover of Apptio, Inc.
Investors who purchased shares of Apptio, Inc. (NASDAQ: APTI) and currently hold any of those NASDAQ: APTI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: APTI stockholders by agreeing to sell Apptio, Inc. cheaply via an unfair process.
On November 11, 2018, Apptio, Inc. (NASDAQ: APTI) announced that it has entered into an agreement to be acquired by an affiliate of Vista Equity Partners. Under the terms of the agreement, Vista will acquire all outstanding shares of Apptio common stock for a total value of approximately $1.94 billion. Apptio shareholders will receive $38.00 in cash per share.
However, plaintiff claims that the proposed consideration NASDAQ: APTI shareholders will receive is grossly inadequate and undervalues Apptio, Inc. Indeed, at least one analyst has set the high target price for NASDAQ: APTI shares at $40.00 per share. Apptio, Inc. reported that its annual Total Revenue rose from $160.56 million in 2016 to $188.51 million in 2017. In addition, the plaintiff alleges that the process is also unfair NASDAQ: APTI stockholders
Those who are current investors in Apptio, Inc. (NASDAQ: APTI) 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
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.