Investigation Overview
November 10, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Sapient Corporation (NASDAQ:SAPE), was announced concerning whether the takeover of Sapient Corporation by Publicis Groupe for $25.00 per share is unfair to NASDAQ:SAPE stockholders.
The investigation by a law firm concerns whether certain officers and directors of Sapient Corporation breached their fiduciary duties owed to NASDAQ:SAPE investors in connection with the proposed acquisition.
On November 3, 2014, Publicis Group and Sapient Corporation (NASDAQ:SAPE)announced that they have entered into an agreement under which Publicis Groupe will acquire Sapient Corporation in an all-cash transaction for $25.00 per share.
However, given that in connection with the tender offer,Jerry A. Greenberg, J. Stuart Moore, and Alan J. Herrick have already entered into a tender and support agreement with Publicis Groupe pursuant to which they have agreed to tender an aggregate of approximately 18% of Sapient's outstanding shares in the offe, the investigation concerns whether the offer is unfair to NASDAQ:SAPE stockholders. More specifically, the investigation concerns whether the Sapient 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.
Sapient Corporation reported that its annual Total Revenue rose from over $1.16 billion in 2012 to over $1.3 billion in 2013 and that its respective Net Income increased from $58.82 million to $77.73 million.
Shares of Sapient Corporation (NASDAQ:SAPE) grew from $9.78 per share in August 2012 to as high as $17.56 per share in March 2014.