SAN DIEGO, April 28, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Textura Corporation (NYSE: TXTR) breached their fiduciary duties in connection with the proposed sale of the Company to Oracle Corporation (NYSE: ORCL).
On April 28, 2016, Textura announced it had signed a definitive merger agreement with Oracle. Under the terms of the agreement, Textura shareholders will receive $26.00 in cash per share of common stock they hold.
The investigation concerns whether the Textura 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 Textura shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration. Textura's 52-week high was $31.23.
If you are a shareholder of Textura 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 ([email protected]) 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.