TIBCO SOFTWARE INVESTOR ALERT: Faruqi & Faruqi, LLP Announces Class Action against TIBCO Software (TIBX) and its Board of Directors for Failing to Maximize Shareholder Value in Sale to Vista Equity
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of TIBCO Software Inc. (“TIBCO” or the “Company”) (Nasdaq: TIBX) for potential breaches of fiduciary duties in connection with the sale of the Company to Vista Equity Partners (“Vista Equity”) for approximately $4.3 billion. The Company’s stockholders will receive $24.00 for each share of TIBCO common stock they own. However, an error by Goldman Sachs and the Board of Directors cost TIBCO shareholders approximately $100 million, or about 61 cents per outstanding share. Complaints have been filed in both Delaware and California.
The investigation focuses on whether TIBCO’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process, still recommending that shareholders approve the deal even after finding out about the valuation error, and whether and by how much this proposed transaction undervalues the Company to the detriment of TIBCO’s shareholders.
If you own common stock in TIBCO and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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