SAN DIEGO, July 28, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of NetSuite Inc. (NYSE: N) breached their fiduciary duties in connection with the proposed sale of the Company to Oracle Corporation (NYSE: ORCL).
NetSuite provides cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software suites in the United States and internationally.
On July 28, 2016, NetSuite announced it had signed a definitive merger agreement with Oracle. Under the terms of the agreement, NetSuite stockholders will receive $109.00 per share in cash.
The investigation concerns whether the NetSuite board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for NetSuite shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; especially given one Wall Street analyst has a $130.00 price target on the stock.
NetSuite has change of control provisions for key executives. As of Fiscal 2015 Year-End, potential payments upon termination or change-in-control, was valued at over $90 million.
If you are a shareholder of NetSuite and believe (1) the proposed buyout price is too low or (2) the merger benefits management more than the shareholders, and (3) you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP