Investors who purchased shares of the Deltek Inc. (NASDAQ:PROJ)
The plaintiff alleges that defendants breached their fiduciary duties owed to NASDAQ:PROJ stockholders arising out of the attempt to sell the company too cheaply to ThomaBravo, LLC
On August 27, 2012, Deltek Inc. announced that it has entered into an agreement under which Deltek will be acquired by leading private equity investment firm Thoma Bravo, LLC in an all-cash transaction valued at approximately $1.1 billion. Under the terms of the proposed transaction, Deltek’s stockholders will receive $13 in cash for each share of NASDAQ:PROJ stock when the transaction closes.
Following the takeover announcement shares of Deltek Inc. (NASDAQ:PROJ)
The plaintiff says the $13offer is fundamentally unfair and NASDAQ:PROJ stockholders will be shortchanged. Furthermore, so the plaintiff, the $13offer ignores analyst valuing the company’s stock at a High target price as high as $16 per share.
Those who are current investors in Deltek Inc. (NASDAQ:PROJ)