NEW YORK, May 2, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Textura Corporation ("TXTR" or the "Company") in connection with the proposed acquisition of the Company by Oracle Corporation ("Oracle"). On April 28, 2016, the Company announced it had reached a definitive agreement for Oracle to acquire all outstanding shares of TXTR in a transaction valued at approximately $663 million. Under the terms of the agreement, TXTR shareholders will receive $26.00 in cash for each TXTR share they own.
WeissLaw is investigating whether TXTR's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company's shares traded for $30.00, or $4.00 above the offer price, as recently as November 4, 2015. Further, on April 28, 2016, the same day of the acquisition announcement, TXTR reported impressive financial results in the first quarter of 2016. It announced revenues of $24.7 million, representing a 28% year-over-year growth when compared to the $19.2 million reported in the same period of the previous year.
Given these facts, WeissLaw is investigating whether TXTR's Board acted in the best interests of TXTR's public shareholders to maximize shareholder value prior to entering into the agreement. If you own TXTR shares and would like more information about your right 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 email@example.com.
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 firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP