NEW YORK, Nov. 28, 2017 /PRNewswire/ -- 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
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/bazaarvoice-inc/.
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SOURCE WeissLaw LLP