SAN DIEGO, May 2, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Opower, Inc. (NYSE: OPWR) breached their fiduciary duties in connection with the proposed sale of the Company to Oracle Corporation (NYSE: ORCL).
Opower provides cloud-based software to the utility industry in the United States.
On May 2, 2016, Opower announced entered into a definitive agreement to be acquired by Oracle, for $10.30 per share in cash.
The investigation concerns whether Opower's board failed to satisfy their duties to the Company's shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company's shares of common stock. Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed deal price represents adequate consideration; especially given one Wall Street analyst has a $20.00 price target on the stock. Opower's 52-week high was $12.97.
If you are a shareholder of Opower and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number where you can be reached.
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