A lawsuit was filed for investors in shares of Bazaarvoice Inc (NASDAQ:BV) in connection with the proposed takeover and NASDAQ:BV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/18/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Bazaarvoice Inc (NASDAQ:BV), filed a lawsuit against the proposed takeover of Bazaarvoice Inc. by entities affiliated with Marlin Equity Partners for $5.50 per share.
Investors who purchased shares of Bazaarvoice Inc (NASDAQ:BV) and currently hold any of those NASDAQ:BV 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:BV stockholders by agreeing to sell Bazaarvoice Inc via an unfair process.
On November 27, 2017, Bazaarvoice, Inc. (Nasdaq: BV) announced that it has entered into a definitive agreement to be acquired by entities affiliated with the global investment firm, Marlin Equity Partners.
Under the terms of the agreement, Marlin Equity Partners will acquire each share of outstanding common stock of Bazaarvoice Inc (NASDAQ:BV) in exchange for $5.50 in cash for a total value of approximately $521 million.
However, plaintiff claims that the proposed consideration Nasdaq: BV shareholders will receive is grossly inadequate and undervalues, Bazaarvoice, Inc. Indeed, at least one analyst has set the high target price fro NASDAQ:BV shares at $7.00 per share. Furthermore, Bazaarvoice Inc reported that its Total Revenue rose from $199.77 million for the 12 months period that ended on April 30, 2016 to $201.24 million for the 12 months period that ended on April 30, 2017 and that its Net Loss over those time periods declined from $25.34 million to $15.94 million. Shares of Bazaarvoice Inc (NASDAQ:BV) reached in 2013 as high as $11.36 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ:BV stockholders.
Those who are current investors in Bazaarvoice Inc (NASDAQ:BV) 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