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Clicksoftware Technologies Ltd (NASDAQ:CKSW) Investor Filed Lawsuit Against Acquisition At $12.65 Per Share

  • If you purchased shares of Clicksoftware Technologies Ltd (NASDAQ:CKSW) and currently hold any of those NASDAQ:CKSW 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
Clicksoftware Technologies Ltd
Security
NASDAQ: CKSW

Case Name
Clicksoftware Technologies Deal Case 06/08/2015
Type of Lawsuit
Mergers and Acquisition
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Summary

June 9, 2015 (Shareholders Foundation) - An investor who currently holds shares of Clicksoftware Technologies Ltd (NASDAQ:CKSW), filed a lawsuit in effort to halt the proposed takeover of Clicksoftware Technologies Ltd. for $12.65 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CKSW stockholders by agreeing to sell Clicksoftware Technologies Ltd too cheaply via an unfair process.

On April 30, 2015, Clicksoftware Technologies Ltd (NASDAQ:CKSW) announced that it has signed an agreement to be acquired by private funds managed by Francisco Partners Management L.P. in an all-cash transaction valued at approximately $438 million. Under the terms of the agreement, private funds managed by Francisco Partners Management L.P will acquire all of Clicksoftware Technologies Ltd’s (NASDAQ:CKSW) outstanding ordinary shares for $12.65 per share in cash.

However, the plaintiff claims that the proposed consideration NASDAQ:CKSW unitholders will receive is grossly inadequate and undervalues Clicksoftware Technologies Ltd. Clicksoftware Technologies Ltd (NASDAQ:CKSW) reported that its annual Total Revenue rose from $103.18 million in 2013 to $126.21 million in 2014 and that its Net Loss declined from $4.16 million in 2013 to $3.03 million in 2014. In addition, the plaintiff claims that the process is also unfair to NASDAQ:CKSW stockholders.