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Pervasive Software Inc. (NASDAQ:PVSW) Investor Files Lawsuit Against Proposed Takeover By Actian Corporation

  • If you purchased shares of Pervasive Software Inc. (NASDAQ:PVSW) prior to January 28, 2013, and currently hold any of those NASDAQ:PVSW 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
Pervasive Software Inc.
Security
NASDAQ: PVSW

Case Name
Pervasive Software Deal Case 02/04/2013
Type of Lawsuit
Mergers and Acquisition
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Summary

Feb. 05, 2013 (Shareholders Foundation) -- An investor in shares of Pervasive Software Inc. (NASDAQ:PVSW) filed a lawsuit in effort to block the proposed takeover of Pervasive Software Inc by Actian Corporation at $9.20 per NASDAQ:PVSW share.
The plaintiff alleges that the defendants breached their fiduciary duties owed NASDAQ:PVSW stockholders arising out of the attempt to sell the company too cheaply via an unfair process.

On January 28, 2013, Pervasive Software Inc. (NASDAQ: PVSW) announced that it has entered into an agreement to be acquired by an affiliate of Actian Corporation in a transaction with a total value of approximately $161.9 million. Under the terms of the agreement, Pervasive’s stockholders will receive $9.20 in cash for each share of Pervasive stock they hold.

However, The plaintiff claims that the $9.20-offer is too low and undervalues the company. Indeed, shares of Pervasive Software Inc. (NASDAQ:PVSW) grew from $3.45 per share in February 2009 to as high as $9.12 per share in December 2012.

Furthermore, so the plaintiff, the process is also unfair to NASDAQ:PVSW stockholders.