An investigation on behalf of investors of The Ultimate Software Group, Inc. (NASDAQ: ULTI) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 02/21/2019 -- An investigation on behalf of investors, who currently hold shares of The Ultimate Software Group, Inc. (NASDAQ: ULTI), was announced concerning whether the takeover of The Ultimate Software Group, Inc. is unfair to NASDAQ: ULTI stockholders.
Investors who purchased shares of The Ultimate Software Group, Inc. (NASDAQ: ULTI) and currently hold any of those NASDAQ: ULTI shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of The Ultimate Software Group, Inc. breached their fiduciary duties owed to NASDAQ: ULTI investors in connection with the proposed acquisition.
Weston, FL based The Ultimate Software Group, Inc. provides cloud-based human capital management solutions primarily to enterprise companies in the United States and Canada.
On February 4, 2019, Ultimate Software (Nasdaq: ULTI) announced that it has entered into a merger agreement to be acquired by an investor group led by Hellman & Friedman in an all-cash transaction for $331.50 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ: ULTI shares at $370.00 per share, investigation concerns whether the offer is unfair to NASDAQ: ULTI stockholders. More specifically, the investigation concerns whether the Ultimate Software Group Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
The Ultimate Software Group, Inc. reported that its annual Total Revenue rose from $940.72 million in 2017 to over $1.14 billon in 2018 and that its Net Income increased from $14.05 million in 2017 to $65.14 million in 2018.
Shares of The Ultimate Software Group, Inc. (NASDAQ: ULTI) closed on February 20, 2019, at $332.32 per share.
Those who are current investors in The Ultimate Software Group, Inc. (NASDAQ: ULTI) shares have certain options and should contact the Shareholders Foundation.
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