An investor in NASDAQ:SAAS shares filed a lawsuit in effort to halt the proposed takeover of Incontact Inc. by NICE Systems for $14.00 per share.
Investors who purchased shares of Incontact Inc (NASDAQ:SAAS) and currently hold any of those NASDAQ:SAAS shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SAAS stockholders by agreeing to sell Incontact Inc too cheaply via an unfair process to NICE Systems
On May 18, 2016, Midvale, UT based Incontact Inc (NASDAQ:SAAS) announced that it has entered into an agreement to be acquired by NICE Systems (NASDAQ: NICE). Under the terms of the agreement, inContact stockholders will receive $14.00 per share in cash.
However, plaintiff claims that the proposed consideration NASDAQ:SAAS shareholders will receive is grossly inadequate and undervalues Incontact Inc. Indeed, at least one analyst has set the high target price for NASDAQ:SAAS shares at $16.00 per share. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:SAAS stockholders.
On July 1, 2016, NASDAQ:SAAS shares closed at $13.92 per share.
Those who are current investors in NASDAQ:SAAS shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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