An investigation on behalf of investors of Responsys Inc (NASDAQ:MKTG) in connection with the proposed takeover was announced and NASDAQ:MKTG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/23/2013 -- An investigation on behalf of investors, who currently hold shares of Responsys Inc (NASDAQ:MKTG) shares, was announced concerning whether the takeover of Responsys Inc by Oracle for $27.00 per share is unfair to NASDAQ:MKTG stockholders.
Investors who purchased shares of Responsys Inc and currently hold any of those NASDAQ:MKTG shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Responsys Inc breached their fiduciary duties owed to NASDAQ:MKTG investors in connection with the proposed acquisition.
On December 20, 2013, Responsys Inc announced that it has entered into an agreement to be acquired by Oracle for $27.00 per share in cash or approximately $1.5 billion, net of Responsys' cash.
However, the investigation concerns whether the $27.00-offer is unfair to NASDAQ:MKTG stockholders. More specifically, the investigation concerns whether the Responsys 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.
Responsys Inc reported that its annual Total Revenue rose from $66.64 million in 2009 to $162.82 million in 2012.
Shares of Responsys Inc rose from $5.70 per share in late 2012 to almost $20 per share in early December 2013.
On December 20, 2013, NASDAQ:MKTG shares closed at $27.40 per share.
Those who are current investors in Responsys Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego