A lawsuit was filed by investor in shares of Conversant Inc (NASDAQ:CNVR) in effort to stop the proposed takeover and NASDAQ:CNVR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/23/2014 -- An investor, who currently holds shares of Conversant Inc (NASDAQ:CNVR), filed a lawsuit in effort to halt the proposed takeover of Conversant Inc. by Alliance Data Systems Corporation for $35 per share.
Investors who purchased shares of Conversant Inc (NASDAQ:CNVR) and currently hold any of those NASDAQ:CNVR 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:CNVR stockholders by agreeing to sell Conversant Inc. too cheaply via an unfair process to Alliance Data Systems Corporation
On September 11, 2014, Alliance Data Systems Corporation (NYSE: ADS) and Conversant, Inc. (NASDAQ: CNVR) announced the execution of an agreement whereby Alliance Data will purchase Conversant. Under the terms of the agreement, Alliance Datawill acquire all outstanding shares of Conversant for a combination of cash and stock valued at approximately$2.3 billion, or $35 per Conversant share.
However, the plaintiff alleges that the offer is too low and undervalues Conversant Inc. Indeed, Conversant’s performance improver recently. In fact, Conversant Inc reported that its annual Total Revenue rose from $400.33 million in 2011 to $573.12 million in 2013 and that its respective Net Income increased from $101.13 million to $101.88 million. Shares of Conversant Inc (NASDAQ:CNVR) grew from $5.84 per share in March 2009 to as hih as $31.87 per share in May 2013. In addition, the plaintiff claims that the process is also unfair to NASDAQ:CNVR stockholders.
On September 19, 2014, NASDAQ:CNVR shares closed at $34.27 per share.
Those who are current investors in Conversant Inc (NASDAQ:CNVR) 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