An investigation on behalf of investors of Xactly Corp (NYSE:XTLY) in connection with the proposed takeover was announced and NYSE:XTLY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/05/2017 -- The takeover of Xactly Corp is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold shares of Xactly Corp (NYSE:XTLY), was announced concerning whether the takeover of Xactly Corp. by Vista Equity Partners for $15.65 per share is unfair.
Investors who purchased shares of Xactly Corp (NYSE:XTLY) and currently hold any of those NYSE:XTLY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Xactly Corp breached their fiduciary duties owed to NYSE:XTLY investors in connection with the proposed acquisition.
On May 30, 2017, Xactly Corp (NYSE:XTLY) announced that it has entered into an agreement to be acquired by private equity firm Vista Equity Partners. Under the terms of the agreement, affiliates of Vista Equity Partners will acquire all outstanding shares of Xactly Corp (NYSE:XTLY) common stock for a total value of approximately $564 million. Xactly Corp (NYSE:XTLY) stockholders will receive $15.65 in cash per share.
However, given that at least one analyst has set the high target price for NYSE:XTLY shares at $20.00 per share, the investigation concerns whether the offer is unfair to Xactly Corp (NYSE:XTLY stockholders. More specifically, the investigation concerns whether the Xactly Corp (NYSE:XTLY 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.
Shares of Xactly Corp (NYSE:XTLY) closed on June 2, 2017 at $15.65 per share.
Those who are current investors in Xactly Corp 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