NEW YORK, May 24, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Ariba Inc. ("Ariba" or the "Company") (Nasdaq: ARBA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to SAP AG (NYSE: SAP). Under the terms of the transaction, Ariba shareholders will receive $45 per share of Ariba stock they own. The transaction has a total approximate value of $4.3 billion.
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The investigation concerns whether the Ariba Board of Directors breached their fiduciary duties to Ariba stockholders by failing to adequately shop the Company before entering into this transaction and whether SAP AG is underpaying for Ariba shares, thus unlawfully harming Ariba stockholders. In particular, at least one analyst set a price target for Ariba stock at $50.00 per share.If you own common stock in Ariba and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/ariba-arba. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com