RightNow Technologies Inc. (NASDAQ: RNOW) shareholder litigation in connection with alleged unfair takeover offer
On October 24, 2011, RightNow Technologies Inc. ("RightNow" or the "Company") announced that it has agreed to sell the Company to Oracle Corporation (NASDAQ: ORCL). Under the terms of the transaction, RightNow shareholders will receive $43.00 per share of RightNow stock they own. The
transaction is valued at approximately $1.5 billion, including the assumption of debt.
The investigation concerns whether the RightNow Board of Directors breached their fiduciary duties to RightNow stockholders by failing to adequately shop the Company before entering into this transaction and whether Oracle Corporation is underpaying for RightNow shares, thus unlawfully harming RightNow stockholders.