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Saba Software, Inc. (OTCMKTS:SABA) Investor Filed Lawsuit Against Acquisition

  • If you purchased shares of Saba Software, Inc. (OTCMKTS:SABA) and currently hold any of those OTCMKTS:SABA 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
Saba Software, Inc.
Security
OTCMKTS: SABA

Case Name
Saba Software Deal Case 02/27/2015
Type of Lawsuit
Mergers and Acquisition
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Summary

March 2, 2015 (Shareholders Foundation) - An investor, who currently holds shares of Saba Software, Inc. (OTCMKTS:SABA), filed a lawsuit in effort to stop the proposed takeover of Saba Software, Inc. by an affiliate of Vector Capital at $9.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to OTCMKTS:SABA stockholders by agreeing to sell Saba Software, Inc.. too cheaply via an unfair process to Vector Capital

On February 10, 2015 Saba Software, Inc. (OTCMKTS:SABA) announced that it has entered into an agreement with affiliates of Vector Capital under which an affiliate of Vector Capital will acquire all of the outstanding shares of Saba Software, Inc. (OTCMKTS:SABA) common stock for $9.00 per share in an all cash offer.

However, the plaintiff claims that the proposed consideration OTCMKTS:SABA shareholders will receive is grossly inadequate and undervalues Saba Software, Inc. Indeed, at least one analyst has set the high target price for SABA shares at $17.00 per share. In addition, the plaintiff claims that the process is also unfair to OTCMKTS:SABA stockholders.