SuccessFactors, Inc. Merger Litigation (NYSE: SFSF)
Law Office of Brodsky & Smith, LLC Announces Investigation of SuccessFactors, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of SuccessFactors, Inc. (“SuccessFactors” or the “Company”) (NYSE - SFSF- News) relating to the proposed acquisition by SAP America, Inc., a subsidiary of SAP AG (“SAP”).
Under the terms of the transaction SuccessFactors shareholders would receive $40.00 in cash for each share SuccessFactors stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of SuccessFactors for not acting in the Company’s shareholders' best interests in connection with the sale process to SAP. The transaction may undervalue SuccessFactors as SuccessFactors stock traded at $40.27 as recently as April 26, 2011. In addition, an analyst has set a price target on SuccessFactors stock at $45.00 per share.
If you own shares of SuccessFactors stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, or by calling toll free 877-LEGAL-90.
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