WeissLaw LLP: Solera Holdings, Inc. Acquisition By Vista Equity Partners May Not Be In The Best Interest Of SLH Shareholders
NEW YORK, Sept. 18, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Solera Holdings, Inc. ("SLH" or the "Company") by Vista Equity Partners is the subject of an investigation by WeissLaw LLP, a national class action, shareholder rights law firm. The investigation is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of SLH for agreeing to sell the Company to Vista. On September 13, 2015, the Company announced it had reached a definitive agreement for Vista to acquire all outstanding shares of SLH in a transaction valued at approximately $6.5 billion, inclusive of debt. Under the terms of the agreement, SLH shareholders will receive $55.85 in cash for each SLH share they own.
WeissLaw is investigating whether SLH's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the offer price represents a mere 12.9% premium over the Company's September 11, 2015 closing price of $49.45. Additionally, SLH recently announced positive financial results. It reported revenues of $1,408 million in fiscal year 2015 as compared with $987.3 million in the previous year, representing an increase of 22.6% year-over-year on a constant currency basis.
Given these facts, WeissLaw is investigating whether SLH's Board acted in the best interests of SLH's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Vista. If you own SLH 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 or Kelly Keenan by telephone at (888) 593-4771 or by email at [email protected].
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 protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP
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