WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Jive Software, Inc. (“JIVE” or the “Company”) in connection with the proposed acquisition of the Company by ESW Capital, LLC (“ESW”). Under the terms of the agreement, JIVE shareholders will receive $5.25 in cash for each share they own.
WeissLaw is investigating whether JIVE’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $6.00. Additionally, JIVE recently announced record financial results, reporting revenue $51.7 million in the fourth quarter of fiscal year 2016 and annual revenues of $204.1 million, representing year-over-year growth of $1.5 million and $8.3 million respectively, and exceeding its annual guidance range by $1.2 million on the high end. CEO Elisa Steele underscored the Company’s financial success when she highlighted “the fact that this is the third quarter in a row where [JIVE has] delivered on [its] commitment to operate within a sustainably profitable non-GAAP operating model.” In forward-looking statements, Ms. Steele confidently projected the future growth prospects of the Company, stating that “[b]ased on the transformation work [done] in 2016 to realign the [C]ompany, [JIVE is] strategically poised for success as [it] enter[s] 2017.”
Given these facts, WeissLaw is investigating whether JIVE’s Board acted in the best interests of JIVE’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own JIVE 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 firstname.lastname@example.org.
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 email@example.com or fill out the form on our website, http://www.weisslawllp.com/jive-software-inc/