WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Bazaarvoice, Inc. (“BV” or the “Company”) (NASDAQ: BV) in connection with the proposed acquisition of the Company by an affiliate of the global investment firm Marlin Equity Partners (the “Affiliate”). Under the terms of the agreement, shareholders of BV will receive $5.50 in cash for each BV share they own.
WeissLaw is investigating whether BV’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $7.00, or $1.50 above the offer price. Additionally, on the same day as the acquisition announcement, BV reported revenue of $53.4 million and adjusted EBITDA of $9.3 million in the second quarter of fiscal year 2018, representing annual growth of 6% and 78% respectively.
Moreover, according to a B. Riley analyst, the price offered to BV shareholders, which represents a premium of 14.5% over the previous day’s closing price, could have been higher due to the Company’s recent improvements in fundamentals over the past quarters. The Company was subsequently downgraded from Buy to Neutral, and removed from B. Riley’s list of Alpha Generators.
Given these facts, WeissLaw is investigating whether BV’s Board acted in the best interests of BV’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own BV 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 email@example.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 firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/bazaarvoice-inc/