NEW YORK, June 9, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Demandware, Inc. ("DWRE" or the "Company") in connection with the proposed acquisition of the Company by Salesforce.com Inc. ("Salesforce.com"). On June 1, 2016, the Company announced it had reached a definitive agreement for Salesforce.com to acquire all outstanding shares of DWRE in a transaction valued at approximately $2.8 billion. Under the terms of the agreement, DWRE shareholders will receive $75.00 in cash for each DWRE share they own.
WeissLaw is investigating whether DWRE's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $100.00 per share, or $25.00 above the offer price. Additionally, the Company recently announced positive financial results for the first quarter of 2016. It reported subscription revenue of $56.8 million, a 31% year-over-year increase from the $43.2 million reported in the first quarter of 2015.
Given these facts, WeissLaw is investigating whether DWRE's Board acted in the best interests of DWRE's public shareholders to maximize shareholder value prior to entering into the agreement. If you own DWRE shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP