An investor in NASDAQ:MKTO shares filed a lawsuit against the takeover of Marketo Inc for $55.00 per share.
Investors who purchased shares of Marketo Inc (NASDAQ:MKTO) and currently hold any of those NASDAQ:MKTO shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MKTO stockholders by agreeing to sell Marketo Inc too cheaply via an unfair process to Vista Equity Partners
On May 31, 2016 Marketo Inc (NASDAQ:MKTO) announced that it has entered into an agreement to be acquired by private equity firm Vista Equity Partners. Under the terms of the proposed transaction Marketo Inc (NASDAQ:MKTO) shareholders will receive $35.25 in cash per share.
However, plaintiff claims that the proposed consideration NASDAQ:MKTO shareholders will receive is grossly inadequate and undervalues Marketo Inc. Indeed, at least one analyst has set the high target price for NASDAQ:MKTO shares at $55.00 per share. Marketo Inc reported that its annual Total Revenue rose from $58.41 million in 212 to $209.87 million in 2015. Shares of Marketo Inc (NASDAQ:MKTO) reached as high as $42.68 per share in early 2014. In addition, the plaintiff alleges that the process is also unfair to Marketo Inc stockholders
On July 21, 2016, NASDAQ:MKTO shares closed at $35.05 per share.
Those who are current investors in NASDAQ:MKTO shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com