BOSTON, Feb. 9, 2012 /PRNewswire/ -- Block & Leviton LLP ( blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duties by the Board of Directors of Taleo Corporation ("Taleo" or the "Company") (Nasdaq: TLEO) in connection with the proposed acquisition of the Company by Oracle Corporation in a deal valued at $1.9 billion.
Block & Leviton's investigation seeks to determine, among other things, whether Taleo's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed transaction. Under the terms of the proposed transaction, Taleo shareholders would receive $46 per share. The offer price represents a modest premium of 18% over yesterday's closing price of $38.94. Taleo stock traded as high as $45.53 per share as recently as December 9, 2011 and at least one analysis has targeted the Company's stock at $50 per share.
If you are a Taleo shareholder and have questions about your legal rights, please contact Whitney Street, Esq. of Block & Leviton at (617) 398-5630 or email her at email@example.com.Block & Leviton is a Boston-based law firm representing investors for violations of securities laws. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years. This notice may constitute attorney advertising. SOURCE Block & Leviton LLP