The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Eloqua, Inc. (“Eloqua” or the “Company”) (Nasdaq: ELOQ) and other violations of state law by the board of directors of Eloqua relating to the proposed acquisition of the Company by Oracle Corporation (“Oracle”). The firm’s investigation seeks to determine, among other things, whether Eloqua’s board of directors breached their fiduciary duties by failing to maximize shareholder value.
Under the terms of the proposed transaction, Eloqua shareholders will receive $23.50 in cash for each share of common stock they own. The transaction is currently being valued at $871 million, net of Eloqua’s cash. According to Yahoo! Finance, the median analyst price target is $25.00 per Eloqua share and the high analyst price target is $27.00 per share. Eloqua shares have traded at $24.65 as early as November 1, 2012.
If you currently own common stock of Eloqua and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at firstname.lastname@example.org, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.