Investigation Overview
February 13, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Saba Software, Inc. (OTCMKTS:SABA), was announced concerning whether the takeover of Saba Software, Inc. by an affiliate of Vector Capital at $.00 per share is unfair to OTCMKTS:SABA stockholders.
The investigation by a law firm concerns whether certain officers and directors of Saba Software, Inc. breached their fiduciary duties owed to OTCMKTS:SABA investors in connection with the proposed acquisition.
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, given that at least one analyst has set the high target price for SABA shares at $17.00 per share, the investigation concerns whether the offer is unfair to OTCMKTS:SABA stockholders. More specifically, the investigation concerns whether the Saba Software 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.