The proposed acquisition of Xactly Corporation (“XTLY” or the “Company”) by Vista Equity Partners (“Vista”) is the subject of an examination by WeissLaw LLP, a national class action, shareholders rights law firm. On May 30, 2017, XTLY announced that it had entered into a definitive agreement to be acquired by Vista. Under the terms of the agreement, the Company’s shareholders will receive $15.65 in cash for each XTLY share they own.
WeissLaw is investigating whether XTLY’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $20.00, or nearly $5.00 above the offer price. Additionally, on the same day as the acquisition announcement, the Company preliminarily announced positive financial result for the first quarter of fiscal year 2018. In a separate press release XTLY announced that “[t]otal revenue is expected to be approximately $24.6 million and subscription revenue is expected to be $19.5 million;” representing year-over-year increases of $1.3 million and $2.2 million respectively when compared to the $23.3 million in total revenue and the $17.3 million in subscription revenue reported in same period of the previous year.
Given these facts, WeissLaw is investigating whether XTLY’s Board acted in the best interests of XTLY’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own XTLY 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/xactly-corporation/