NEW YORK, May 31, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of SciQuest, Inc. ("SciQuest" or the "Company") (NASDAQ: SQI) (ISIN: US80908T1016) (CUSIP: 80908T101) concerning the proposed acquisition of SciQuest by affiliates of Accel-KKR, a technology-focused private equity firm.
SciQuest shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the SciQuest directors are breaching their fiduciary duties by failing to adequately maximize shareholder value. Under the terms of the proposed transaction, SciQuest shareholders will be entitled to receive $17.75 in cash for each share of SciQuest common stock held.
However, the merger price is below an analyst's recent target price of $19.50 per share.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
212-661-1100 ext. 9980
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SOURCE Pomerantz LLP