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Incontact Inc (NASDAQ:SAAS) Investor Lawsuit Against Acquisition By NICE Systems Filed

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

Case Name
Incontact Deal Case 06/22/2016
Type of Lawsuit
Mergers and Acquisition
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Summary

June 27, 2016 (Shareholders Foundation) - An investor who currently holds shares of Incontact Inc (NASDAQ:SAAS), filed a lawsuit in effort to halt the proposed takeover of cloud contact center software solutions provider Incontact Inc. by NICE Systems for $14.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SAAS stockholders by agreeing to sell Incontact Inc too cheaply via an unfair process to NICE Systems

On May 18, 2016, Midvale, UT based Incontact Inc (NASDAQ:SAAS) announced that it has entered into an agreement to be acquired by NICE Systems (NASDAQ: NICE). Under the terms of the agreement, inContact stockholders will receive $14.00 per share in cash.

However, plaintiff claims that the proposed consideration NASDAQ:SAAS shareholders will receive is grossly inadequate and undervalues Incontact Inc. Indeed, at least one analyst has set the high target price for NASDAQ:SAAS shares at $16.00 per share. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:SAAS stockholders.