NEW YORK, June 22, 2017 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of ARI Network
Services, Inc. ("ARIS" or the "Company") (NASDAQ: ARIS) in
connection with the proposed acquisition of the
Company by private equity firm, True Wind Capital Management, LLC
("TWC"). Under the terms of the agreement, the
Company's shareholders will receive $7.10 in cash for each ARIS share they
own.
WeissLaw is investigating whether ARIS's
Board acted to maximize shareholder value prior to entering
into the agreement. Notably, the Company recently announced
positive financial results for third quarter of fiscal year
2017. It reported revenue increased for the 13th consecutive
quarter to a record $13.4 million,
representing 12% period-over-period growth when compared to the
$12.0 million reported in the same
quarter of the previous year. ARIS also reported double-digit
growth in cash generated from operations, increasing 24.1% to
$3.2 million, and operating income,
increasing 61.5% to $1.5 million.
Finally, this transaction will privatize ARIS and exclude its
shareholders from the Company's continued success and future growth
prospects
Given these facts, WeissLaw is investigating whether
ARIS's Board acted in the best interests of ARIS's public
shareholders to maximize shareholder value prior to entering into
the agreement. If you own ARIS 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
stockinfo@weisslawllp.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 stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/ari-network-services-inc/
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SOURCE WeissLaw LLP
