An investigation on behalf of investors of Ellie Mae, Inc. (NYSE: ELLI) in connection with the proposed takeover was announced and NYSE: ELLI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/20/2019 -- An investigation was announced for investors, who currently hold shares of Ellie Mae, Inc. (NYSE: ELLI), concerning whether the takeover of Ellie Mae, Inc. is unfair to NYSE: ELLI stockholders.
Investors who purchased shares of Ellie Mae, Inc. (NYSE: ELLI) and currently hold any of those NYSE: ELLI shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Ellie Mae, Inc. breached their fiduciary duties owed to NYSE: ELLI investors in connection with the proposed acquisition.
Pleasanton, CA based Ellie Mae, Inc. provides cloud-based platform for the mortgage finance industry in the United States. ON February 12, 2019, Ellie Mae, Inc. (NYSE: ELLI) announced that it has entered into an agreement to be acquired by Thoma Bravo, LLC in an all-cash transaction that values Ellie Mae at an aggregate equity value of approximately $3.7 billion. Under the terms of the agreement, all Ellie Mae, Inc. (NYSE: ELLI) shareholders will receive $99.00 in cash per share.
However, given that at least one analyst has set the high target price for NYSE: ELLI shares at $135.00 per share and given that NYSE: ELLI shares traded as high as $116.08 per share in June 2018, the investigation concerns whether the offer is unfair to NYSE: ELLI stockholders. More specifically, the investigation concerns whether the Ellie Mae 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 February 19, 2019, NYSE: ELLI shares closed at $98.96 per share.
Those who are current investors in Ellie Mae, Inc. (NYSE: ELLI) shares have certain options and should contact the Shareholders Foundation.
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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.