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Advent Software, Inc. (NASDAQ:ADVS) Investor Files Lawsuit Over Alleged Wrongdoing In Acquisition

  • If you purchased shares of Advent Software, Inc. (NASDAQ:ADVS) and currently hold any of those NASDAQ:ADVS shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Advent Software, Inc.
Security
NASDAQ: ADVS

Case Name
Advent Software Deal Case 02/13/2015
Type of Lawsuit
Mergers and Acquisition
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Summary

February 17, 2015 (Shareholders Foundation) - An investor, who currently holds shares of Advent Software, Inc. (NASDAQ:ADVS), filed a lawsuit in effort to halt the proposed takeover of Advent Software, Inc. by SS&C Technologies Holdings, Inc for a value of $44.25 per shares.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:ADVS stockholders by agreeing to sell Advent Software, Inc. too cheaply via an unfair process to SS&C Technologies Holdings.

On February 2, 2015, SS&C Technologies Holdings, Inc. and Advent Software, Inc. announced that the Companies have entered into an agreement wherein SS&C Technologies Holdings will acquire Advent Software, Inc. Under the terms of the agreement, SS&C Technologies Holdings will purchase Advent Software, Inc. (NASDAQ:ADVS) for an enterprise value of approximately $2.7 billion in cash, equating to $44.25 per NASDAQ:ADVS share plus assumption of debt.

However, the plaintiff claims that the $44.25-offer is too low and undervalues Advent Software, Inc. Indeed, Advent Software, Inc. reported that its annual Total Revenue rose from $283.50 million in 2010 to $382.96 million in 2013. Shares of Advent Software, Inc. (NASDAQ:ADVS) grew from $29.27 per share on January 6, 2015 to as high as $42.85 per share on January 28, 2015. In addition, the plaintiff claims that the process is also unfair to NASDAQ:ADVS stockholders