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The Ultimate Software Group, Inc. (NASDAQ: ULTI) Investor Alert: Lawsuit filed in effort to Halt the Takeover by

  • Investors who purchased shares of The Ultimate Software Group, Inc. (NASDAQ: ULTI) may have certain options. Please 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

Case Dismissed
Company
Ultimate Software Group, Inc.
Security
NASDAQ: ULTI

Case Name
Ultimate Software Group Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the District of Delaware

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Summary

May 9, 2019 - The case was voluntarily dismissed.

March 14, 2019 - An investor, who currently holds shares of The Ultimate Software Group, Inc. (NASDAQ: ULTI), filed a lawsuit against the takeover of The Ultimate Software Group, Inc. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: ULTI stockholders by agreeing to sell The Ultimate Software Group, Inc. cheaply via an unfair process.

Weston, FL based The Ultimate Software Group, Inc. provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada.

On February 4, 2019, Ultimate Software (Nasdaq: ULTI) announced that it has entered into a merger agreement to be acquired by an investor group led by Hellman & Friedman in an all-cash transaction for $331.50 per share in cash. However, plaintiff claims that the proposed consideration Nasdaq: ULTI shareholders will receive is grossly inadequate and undervalues Ultimate Software. Indeed, at least one analyst has set the high target price for NASDAQ: ULTI shares at $370.00 per share. The Ultimate Software Group, Inc. reported that its annual Total Revenue rose from $940.72 million in 2017 to over $1.14 billon in 2018 and that its Net Income increased from $14.05 million in 2017 to $65.14 million in 2018. In addition, the plaintiff alleges that the process is also unfair Nasdaq: ULTI stockholders