A lawsuit was filed by an investor in shares of Advent Software, Inc. (NASDAQ:ADVS) in effort to stop the proposed takeover and NASDAQ:ADVS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/18/2015 -- An investor, who currently holds shares of Advent Software, Inc. (NASDAQ:ADVS), filed a lawsuit in effort to halt the proposed takeover of Advent Software, Inc. by SS&C Technologies Holdings, Inc for a value of $44.25 per shares.
Investors who purchased shares of Advent Software, Inc. (NASDAQ:ADVS) and currently hold any of those NASDAQ:ADVS 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:ADVS stockholders by agreeing to sell Advent Software, Inc. too cheaply via an unfair process to SS&C Technologies Holdings.
On February 2, 2015, SS&C Technologies Holdings, Inc. and Advent Software, Inc. announced that the Companies have entered into an agreement wherein SS&C Technologies Holdings will acquire Advent Software, Inc. Under the terms of the agreement, SS&C Technologies Holdings will purchase Advent Software, Inc. (NASDAQ:ADVS) for an enterprise value of approximately $2.7 billion in cash, equating to $44.25 per NASDAQ:ADVS share plus assumption of debt.
However, the plaintiff claims that the $44.25-offer is too low and undervalues Advent Software, Inc. Indeed, Advent Software, Inc. reported that its annual Total Revenue rose from $283.50 million in 2010 to $382.96 million in 2013. Shares of Advent Software, Inc. (NASDAQ:ADVS) grew from $29.27 per share on January 6, 2015 to as high as $42.85 per share on January 28, 2015. In addition, the plaintiff claims that the process is also unfair to NASDAQ:ADVS stockholders
On February 13, 2015, NASDAQ:ADVS shares closed at $44.18 per share.
Those who are current investors in Advent Software, Inc. (NASDAQ:ADVS) 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