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Bazaarvoice Inc (NASDAQ:BV) Investor Files Lawsuit Against Directors In Connection With Acquisition Of PowerReviews Inc.

  • If you purchased shares of Bazaarvoice Inc (NASDAQ:BV) 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
Bazaarvoice Inc
Security
NASDAQ: BV

Case Name
Bazaarvoice Shareholder Derivative Lawsuit 03/15/2013
Type of Lawsuit
Stockholder Derivative Action
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Summary

Mar. 15, 2013 (Shareholders Foundation) -- An investors in shares of Bazaarvoice Inc (NASDAQ:BV) filed a lawsuit against directors of Bazaarvoice Inc over alleged breaches of ifduciayr duties in connection with their decision to acquire its main rival PowerReviews Inc.
The plaintiff alleges that the defendants agreed to acquire Bazaarvoice’s main rival PowerReviews Inc. in June 2012 and sold more than $90million in stock.

On Jan. 10, 2013, U.S. Justice Department said it filed a civil antitrust lawsuit challenging the June 2012 acquisition by Bazaarvoice Inc of its main rival PowerReviews Inc. According to the U.S. Justice Department, the transaction allegedly substantially lessened competition in the market for product ratings and reviews platforms in the United States, resulting in higher prices and diminished innovation.

Shares of Bazaarvoice Inc (NASDAQ:BV) dropped from $8.97 per share on Jan. 10, 2013 to $6.54 per share on Jan. 11, 2013.