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Conversant Inc (NASDAQ:CNVR) Investor Filed Lawsuit Against Acquisition By Alliance Data Systems Corporation

  • If you purchased shares of Conversant Inc (NASDAQ:CNVR) and currently hold any of those NASDAQ:CNVR 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
Conversant Inc
Security
NASDAQ: CNVR

Case Name
Conversant Deal Case 09/19/2014
Type of Lawsuit
Mergers and Acquisition
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Summary

September 22, 2014 (Shareholders Foundation) - An investor, who currently holds shares of Conversant Inc (NASDAQ:CNVR), filed a lawsuit in effort to halt the proposed takeover of Conversant Inc. by Alliance Data Systems Corporation for $35 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:CNVR stockholders by agreeing to sell Conversant Inc. too cheaply via an unfair process to Alliance Data Systems Corporation

On September 11, 2014, Alliance Data Systems Corporation (NYSE: ADS) and Conversant, Inc.(NASDAQ: CNVR) announced the execution of an agreement whereby Alliance Data will purchase Conversant. Under the terms of the agreement, Alliance Datawill acquire all outstanding shares of Conversant for a combination of cash and stock valued at approximately$2.3 billion, or $35 per Conversant share.

However, the plaintiff alleges that the offer is too low and undervalues Conversant Inc. Indeed, Conversant’s performance improver recently. In fact, Conversant Inc reported that its annual Total Revenue rose from $400.33 million in 2011 to $573.12 million in 2013 and that its respective Net Income increased from $101.13 million to $101.88 million. Shares of Conversant Inc (NASDAQ:CNVR) grew from $5.84 per share in March 2009 to as hih as $31.87 per share in May 2013. In addition, the plaintiff claims that the process is also unfair to NASDAQ:CNVR stockholders.