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08.09.2016 22:05
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Interactive Intelligence Group Inc. Acquisition May Not Be in the Best Interests of ININ Shareholders
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PR Newswire
NEW YORK, Sept. 8, 2016
NEW YORK, Sept. 8, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Interactive Intelligence Group Inc. ("ININ" or the "Company") in connection with the proposed acquisition of the Company by Genesys Telecommunications Laboratories Inc. ("Genesys"). On August 31, 2016, the Company announced that it had reached a definitive agreement for Genesys to acquire all outstanding shares of ININ in a transaction valued at approximately $1.4 billion. Under the terms of the agreement, ININ shareholders will receive $60.50 in cash for each ININ share they own.
WeissLaw is investigating whether ININ's Board acted to maximize shareholder value prior to entering into the agreement. Notably, prior to the announcement, at least one analyst set a target price of $67.00, or $6.50 above the offer price. Moreover, the Company recently announced positive financial results. It reported total revenues of $108.8 million in the second quarter of fiscal year 2016, representing a 13% year-over-year increase when compared to the $96.3 million reported in the same period of the previous year. Additionally, ININ reported a 43% increase in cloud subscription, from $21.9 million in the second quarter of 2015 to $31.3 million.
Given these facts, WeissLaw is investigating whether ININ's Board acted in the best interests of ININ's public shareholders to maximize shareholder value prior to entering into the agreement. If you own ININ shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/interactive-intelligence-group-inc-acquisition-may-not-be-in-the-best-interests-of-inin-shareholders-300325096.html
SOURCE WeissLaw LLP
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