A lawsuit was filed for investors in shares of The Ultimate Software Group, Inc. (NASDAQ: ULTI) in connection with the proposed takeover and NASDAQ: ULTI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/21/2019 -- The Shareholders Foundation announces that an investor, who currently holds shares of The Ultimate Software Group, Inc. (NASDAQ: ULTI), filed a lawsuit against the takeover of The Ultimate Software Group, Inc.
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 plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: ULTI stockholders by agreeing to sell The Ultimate Software Group, Inc. cheaply via an unfair process.
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, plaintiff claims that the proposed consideration Nasdaq: ULTI shareholders will receive is grossly inadequate and undervalues Ultimate Software. Indeed, at least one analyst has set the high target price for NASDAQ: ULTI shares at $370.00 per share. 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. In addition, the plaintiff alleges that the process is also unfair Nasdaq: ULTI stockholders
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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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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