A lawsuit was filed by an investor in shares of Informatica Corporation (NASDAQ:INFA) in effort to stop the proposed takeover and NASDAQ:INFA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/22/2015 -- An investor, who currently holds shares of Informatica Corporation (NASDAQ:INFA), ), filed a lawsuit in effort to stop the proposed takeover of Informatica Corporation by a company controlled by the Permira funds and Canada Pension Plan Investment Board for $48.75 per share.
Investors who purchased shares of Informatica Corporation (NASDAQ:INFA) and currently hold any of those NASDAQ:INFA 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:INFA stockholders by agreeing to sell Informatica Corporation too cheaply via an unfair process to a company controlled by the Permira funds and Canada Pension Plan Investment Board
On April 7, 2015, (NASDAQ:INFA) announced that it has entered into an agreement to be acquired by a company controlled by the Permira funds and Canada Pension Plan Investment Board (CPPIB) for approximately $5.3 billion. Under the terms of the agreement, Informatica Corporation (NASDAQ:INFA) shareholders will receive $48.75 in cash for each share of Informatica Corporation (NASDAQ:INFA) common stock.
However, the plaintiff claims that the proposed consideration NASDAQ:INFA shareholders will receive is grossly inadequate and undervalues Informatica Corporation. Informatica Corporation reported that its annual Total Revenue rose from $948.17 million in 2013 to over $1.04 billion in 2014 and that its Net Income increased from $86.39 million in 213 to $114.09 million in 2014. Shares of Informatica Corporation (NASDAQ:INFA) grew from $30.65 per share in July 2014 to as high as $46.00 per share on April 6, 2015. Furthermore, the plaintiff claims that the process is also unfair to NASDAQ:INFA stockholders.
On April 20, 2015, NASDAQ:INFA shares closed at $47.93 per share.
Those who are current investors in Informatica Corporation (NASDAQ:INFA) 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