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Copyright ©2011 Levi & Korsinsky, LLP
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| SuccessFactors, Inc. |
| SuccessFactors, Inc. (NYSE: SFSF) shareholder litigation in connection with alleged unfair takeover offer |
On December 5, 2011, SuccessFactors, Inc.
("SuccessFactors" or the "Company") announced that
it has agreed to sell the Company to SAP America,
Inc., a subsidiary of SAP AG (NYSE: SAP). Under
the terms of the transaction, SuccessFactors
("SuccessFactors" or the "Company") announced that
it has agreed to sell the Company to SAP America,
Inc., a subsidiary of SAP AG (NYSE: SAP). Under
the terms of the transaction, SuccessFactors
shareholders will receive $40.00 per share of SucessFactors stock they own. The transaction has a
total approximate value of $3.4 billion.
The claims concern whether the SuccessFactors Board of Directors breached their fiduciary duties
to SuccessFactors stockholders by failing to adequately shop the Company before entering into this
transaction and whether SAP AG is underpaying for SuccessFactors shares, thus unlawfully
harming SuccessFactors stockholders. In particular, at least one analyst set a price target of
$45.00 per SuccessFactors share.
total approximate value of $3.4 billion.
The claims concern whether the SuccessFactors Board of Directors breached their fiduciary duties
to SuccessFactors stockholders by failing to adequately shop the Company before entering into this
transaction and whether SAP AG is underpaying for SuccessFactors shares, thus unlawfully
harming SuccessFactors stockholders. In particular, at least one analyst set a price target of
$45.00 per SuccessFactors share.
