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MICROS Systems, Inc. (NASDAQ:MCRS) Investor Lawsuit Files Lawsuit Against Acquisition By Oracle

  • If you purchased shares of MICROS Systems, Inc. (NASDAQ:MCRS) and currently hold any of those NASDAQ:MCRS 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
MICROS Systems, Inc.
Security
NASDAQ: MCRS

Case Name
MICROS Systems Deal Case 07/14/2014
Type of Lawsuit
Mergers and Acquisition
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Summary

July 14, 2014 (Shareholders Foundation) - An investor in shares of MICROS Systems, Inc. (NASDAQ:MCRS) filed a lawsuit in effort to halt the proposed takeover of MICROS Systems, Inc. by Oracle for $68.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MCRS stockholders by agreeing to sell MICROS Systems, Inc. too cheaply via an unfair process to Ocrale.

On June 23, 2014, MICROS Systems, Inc. (NASDAQ:MCRS) announced that it has entered into an agreement to be acquired by Oracle. Under the terms of the agreement, MICROS stockholders will receive $68.00 in cash for each share of common stock they hold. The purchase price represents a fully-diluted equity value of approximately $5.3 billion, or $4.6 billion net of cash.

However, the plaintiff claims that the takeover of MICROS Systems, Inc by Oracle undervalues MICROS Systems, Inc. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:MCRS stockholders.

MICROS Systems, Inc. reported that its Total Revenue rose from $914.32 million for the 12 months period that ended on June 30, 2010 to over $1.26 billion for the 12 months period that ended on June 30, 2013 and that its respective Net Income increased from $114.35 million to $171.42 million.

Shares of MICROS Systems, Inc. (NASDAQ:MCRS) grew from $14.40 per share in early 2009 to as high as $58.30 per share in January 2014.