A lawsuit was filed by an investor of Quest Software, Inc. (NASDAQ:QSFT) in connection with the takeover and NASDAQ:QSFT stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 03/19/2012 --An investor in NASDAQ:QSFT shares filed a lawsuit in State Court for current stockholders of Quest Software, Inc. (QSFT) in effort to stop the proposed takeover of Quest Software, Inc. by affiliates of Insight Venture Partners for $23.00 per share.

Investors who purchased shares of Quest Software, Inc. (NASDAQ:QSFT) prior to March 9, 2012 and currently hold those NASDAQ:QSFT shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that defendants breached their fidcuary duties owed to NASDAQ:QSFT investors arising out of the attempt to sell Quest Software, Inc. at an unfair price and via an unfair process to affiliates of Insight Venture Partners.

On Friday, March 9, 2012, Quest Software, Inc. announced that it had entered into agreements with affiliates of Insight Venture Partners, under which stockholders not affiliated with the buyout group would receive $23.00 per share in cash.

However, the plaintiff says that the $23offer is unfair to stockholders and undervalues Quest Software. Indeed, recent stock prices leave certain QSFT stockholders with no premium at all, but rather ask them to hand over their shares at a discount.

In fact, QSFT shares jumped from $19.40 on Thursday to $24.13 during Friday, thus above the offer. Furthermore, QSFT shares traded in April 2011 as high as $25.76 and in December 2010 even as high as $28.10 per share, also above the current offer. In addition, an analyst has set the target price for QSFT shares at $29 per share.

Further the plaintiff claims that the process is also unfair to QSFT stockholders. Indeed, Quest Software’s Chairman and CEO, who approximately holds 34% of current shares outstanding, already agreed to support the transaction.

Those who are current investors in Quest Software, Inc. (NASDAQ:QSFT) and purchased their NASDAQ:QSFT shares prior to the announcement, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com