After Art Technology Group announced to be acquired for $6 by Oracle Corp. investigations on behalf of investors of Art Technology Group, Inc. (NASDAQ:ARTG) over possible breaches of fiduciary duties by Art Technology Group, Inc. and its directors were announced.

The investigations by law firm concern whether Oracle Corp, Art Technology Group, Inc. and its Board breached their fiduciary duties owed to Art Technology Group, Inc. (NASDAQ:ARTG) investors in connection with the proposed takeover.

On Tuesday, November 02, 2010, Art Technology Group, Inc. (NASDAQ: ARTG) announced that it has agreed to be acquired by Oracle Corporation for $6.00 per share in cash, or approximately $1.0 billion.
Shares of Art Technology Group, Inc. (NASDAQ: ARTG) traded before the announcement at roughly $4.20 per share and increased in response to the buyout news to $5.95 per share.

But the investigations by the law firm concern whether offered price and the sale process are unfair to the shareholders of Art Technology Group, Inc. (NASDAQ:ARTG).

Art Technology Groups 12 month Total Revenue went from $103.23million in 2006 to $179.38million in 2009. Its Net Income went from $9.70million in 2006 to $16.80million in 2009. Art Technology reported in the first two quarters in 2010 $44.72million, respectively, $49.16million in total revenue. Its Net Income for the first quarter in 2010 was $2.06million, and for the second quarter $4.17million. ATG's revenue for the third quarter of 2010 grew to $50.3 million, a 16% increase over third quarter 2009 revenue of $43.4 million. Net income in accordance with GAAP for the third quarter of 2010 was $4.2 million.

Therefore the investigations concern whether the Art Technology Group Board of Directors undertook an adequate and fair sales process to obtain fair consideration for all shareholders of Art Technology Group, Inc. (NASDAQ:ARTG) and breached their fiduciary duties to Art Technology (ARTG) shareholder by failing to adequately shop the Company before entering into the transaction with Oracle.