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Apptio, Inc. (NASDAQ: APTI) Investor Lawsuit Over Alleged Wrongdoing In Acquisition Filed

  • Investors who purchased shares of Apptio, Inc. (NASDAQ: APTI) may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Apptio, Inc.
Security
NASDAQ: APTI

Case Name
Apptio Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the District of Delaware

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Summary

March 8, 2019 - The case was voluntarily dismissed.

December 6, 2018 - An investor, who currently holds shares of Apptio, Inc. (NASDAQ: APTI), filed a lawsuit against the takeover of Apptio, Inc. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: APTI stockholders by agreeing to sell Apptio, Inc. cheaply via an unfair process.

On November 11, 2018, Apptio, Inc. (NASDAQ: APTI) announced that it has entered into an agreement to be acquired by an affiliate of Vista Equity Partners. Under the terms of the agreement, Vista will acquire all outstanding shares of Apptio common stock for a total value of approximately $1.94 billion. Apptio shareholders will receive $38.00 in cash per share.

However, plaintiff claims that the proposed consideration NASDAQ: APTI shareholders will receive is grossly inadequate and undervalues Apptio, Inc. Indeed, at least one analyst has set the high target price for NASDAQ: APTI shares at $40.00 per share. Apptio, Inc. reported that its annual Total Revenue rose from $160.56 million in 2016 to $188.51 million in 2017. In addition, the plaintiff alleges that the process is also unfair NASDAQ: APTI stockholders