February 19, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Diligent Corporation (OTC: DLBDF), was announced concerning whether the takeover of Diligent Corporation is unfair to Diligent stockholders.

The investigation by a law firm concerns whether certain officers and directors of Diligent Corporation breached their fiduciary duties owed to Diligent investors in connection with the proposed acquisition.

On February 15, 2016 Diligent Corporation announced it has entered into an agreement to be acquired by enture capital and private equity firm Insight Venture Partners (Insight). Under the terms of the agreement, Diligent stockholders will receive $US 4.90 per share.

However, given that certain holders of Diligents preference shares, including Spring Street Partners, L.P., Diligents largest shareholder, have already entered into voting agreements in support of the transaction, the investigation concerns whether the offer is unfair to Diligent stockholders. More specifically, the investigation concerns whether the Diligent Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.