The Law Firm of Weiss & Lurie Investigates Ariba Inc.
23 Mai 2012 - 12:43AM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Ariba Inc. (NASDAQ:
ARBA) arising from its agreement for Ariba to be acquired by a
subsidiary of SAP AG (NYSE: SAP). Under the proposed merger
agreement, shareholders will receive $45.00 in cash per Ariba
share. The transaction is expected to close during the third
quarter of 2012.
Weiss & Lurie is investigating whether Ariba’s Board acted
in the best interests of shareholders in approving this deal and
whether SAP is underpaying for Ariba shares. As part of the deal,
insiders have secured special benefits for themselves – for
example, upon consummation of the deal, Ariba’s existing management
team will continue to lead Ariba, which will operate as an
independent business under the name “Ariba, an SAP company.”
Moreover, the SAP Executive Board intends to nominate Ariba’s CEO,
Bob Calderoni, to the SAP Global Managing Board after the close of
the transaction. Furthermore, an analyst has set a target price for
Ariba stock at $50.00 per share.
If you own Ariba shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Michael A. Rogovin, Esq. either
by telephone at (888) 593-4771 or by email at
info@weisslurie.com.
Weiss & Lurie has litigated hundreds of stockholder class
and derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing, consumer
fraud, or anti-trust violations, please email us at
info@weisslurie.com or fill out the form on our website,
http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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