An investigation for investors in Diligent Corporation shares was announced concerning whether the takeover of Diligent Corporation is unfair.
Investors who purchased shares of Diligent Corporation (OTC: DLBDF) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Diligent Corporation breached their fiduciary duties owed to Diligent investors in connection with the proposed acquisition.
On February 15, 2016 – Diligent Corporation announced it has entered into an agreement to be acquired by enture capital and private equity firm Insight Venture Partners (“Insight”). Under the terms of the agreement, Diligent stockholders will receive $US 4.90 per share.
However, given that certain holders of Diligent’s preference shares, including Spring Street Partners, L.P., Diligent’s largest shareholder, have already entered into voting agreements in support of the transaction, the investigation concerns whether the offer is unfair to Diligent stockholders. More specifically, the investigation concerns whether the Diligent Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
Shares of Diligent Corporation (OTC US: DLBDF) closed on March 1, 2016, at $4.70 per share.
Those who are current investors in Diligent Corporation (OTC: DLBDF) 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