Taleo Corp Investor files Lawsuit to Block Takeover by Oracle

March 5, 2012 - PRLog -- An investor in NASDAQ-TLEO shares filed a lawsuit in State Court in effort to block the proposed takeover of Taleo Corp. by Oracle for $46 per share. The plaintiff alleges that the defendants failed to get the best price for Taleo Corp.

If you are a current investor in Taleo Corp  and purchased your NASDAQ-TLEO shares prior to the announcement, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that certain directors breached their fiduciary duties owed to NASDAQ-TLEO stockholders arising out of the attempt to sell Taleo Corporation via an unfair process at an unfair price to Oracle Corp.

On Thursday, February 9, 2012, Oracle Corporation  today announced that it has entered into an agreement to acquire Taleo Corporation  for $46.00 per share or approximately $1.9 billion, net of Taleo's cash and debt.

However, the plaintiff alleges that the $46per share offer undervalues NASDAQ-TLEO shares. Indeed, at least one analyst has set the high target price for $50 per share, thus well above the current offer. Additionally, shares of Taleo Corp (Public, NASDAQ-TLEO) traded as high as$42.24 per share as recently as December 9, 2011, thus leaving certain TLEO stockholders with only a meager premium. Furthermore the plaintiff alleges the $46offer does not account for Taleo’s expected future growth.

Those who are current investors in Taleo Corp  have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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