Faruqi & Faruqi, LLP Announces Investigation of Taleo Corporation (TLEO)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Taleo Corporation (“Taleo” or the “Company”) (NASDAQ: TLEO) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Oracle Corporation (NASDAQ: ORCL) in an all-cash deal valued at about $1.9 billion. Under the terms of the proposed transaction, Taleo stockholders will receive $46.00 in cash for each share of Taleo common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $49.00 for Taleo.
Whether Taleo’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Taleo’s shares and by how much this proposed transaction undervalues the Company to the detriment of Taleo’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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