Robbins Umeda LLP Announces an Investigation of Taleo Corporation
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by members of the board of directors of Taleo Corporation (NASDAQ: TLEO) in connection with their efforts to sell the company to Oracle Corporation (NASDAQ: ORCL). Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
On February 9, 2012, Oracle announced it has entered into an agreement to acquire Taleo for $46.00 per share. According to the deal announcement, Taleo’s board has unanimously approved the transaction, which is expected to close mid-year 2012.
Robbins Umeda LLP’s investigation focuses on whether Taleo’s board is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the minimal 18.13% premium over Taleo’s February 8, 2012 closing price. In addition, on February 9, 2012, Taleo reported financial results for the fourth quarter of 2011 that exceeded analyst expectations. Further, at least two analysts have price targets ranging from $48 – $50 per share, higher than the current offer price.
Robbins Umeda LLP’s attorneys highlight that Taleo’s shareholders have the option to file a class action lawsuit against the company to secure the best possible price for the company’s shareholders and the disclosure of material information to shareholders so they can vote on the transaction in an informed manner.
Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.