TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Taleo Corp (NASDAQ:TLEO) Investor Files Lawsuit Against Director Of Taleo In Effort to Block The Proposed Takeover By Oracle

  • If you are a current investor in Taleo Corp (NASDAQ:TLEO) and purchased your NASDAQ:TLEO shares prior to the announcement, 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
Taleo Corp.
Security
NASDAQ: TLEO

Case Name
Taleo Corp. Deal Case 02/14/2012
Type of Lawsuit
Mergers and Acquisition
You must register or login to receive notifications.

Click here to subscribe to Taleo Corp..
Summary

San Diego, Feb. 15, 2012 (Shareholders Foundation) -- An investor in NASDAQ:TLEO shares filed a lawsuit in State Court in effort to block the proposed takeover of Taleo Corp. by Oracle for $46 per share. The plaintiff alleges that the defendants failed to get the best price for Taleo Corp.
According to the complaint the plaintiff alleges that certain directors breached their fiduciary duties owed to NASDAQ:TLEO stockholders arising out of the attempt to sell Taleo Corporation via an unfair process at an unfair price to Oracle Corp.

On Thursday, February 9, 2012, Oracle Corporation (NASDAQ: ORCL) today announced that it has entered into an agreement to acquire Taleo Corporation (NASDAQ: TLEO) for $46.00 per share or approximately $1.9 billion, net of Taleo's cash and debt.

However, the plaintiff alleges that the $46per share offer undervalues NASDAQ:TLEO shares. Indeed, at least one analyst has set the high target price for $50 per share, thus well above the current offer. Additionally, shares of Taleo Corp (Public, NASDAQ:TLEO) traded as high as$42.24 per share as recently as December 9, 2011, thus leaving certain TLEO stockholders with only a meager premium. Furthermore the plaintiff alleges the $46offer does not account for Taleo’s expected future growth.