MURRAY FRANK LLP Announces Investigation Of Taleo Corporation
MURRAY FRANK LLP is investigating claims of breach of fiduciary duties by certain members of the board of directors of Taleo Corporation (NASDAQ: TLEO) (“Taleo” or the “Company”) in relation to the proposed sale of the Company to Oracle Corp. (“Oracle”).
On February 9, 2012, Taleo announced that it had entered into an agreement pursuant to which the Company will be acquired by Oracle in a transaction under which Taleo stockholders will receive $46.00 in cash in exchange for each share of Taleo common stock owned, a total value of $1.9 billion.
The investigation focuses on whether certain members of Taleo’s board of directors breached their fiduciary duties in connection with their efforts to sell Taleo to Oracle at an inadequate price through an unfair process which significantly undervalues the Company. Specifically, according to Yahoo! Finance, at least one analyst has set a price target for TLEO of $50 per share.
If you are a current investor in Taleo, who purchased TLEO shares before February 9, 2012, and you wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Bridget V. Hamill at (800) 497-8076 or (212) 682-1818, or by email at firstname.lastname@example.org.
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