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BALA CYNWYD, Pa.,
April 19, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Saba Software, Inc. ("Saba Software" or the "Company") (OTC: SABA) in connection with Saba Software's failure to maintain adequate internal accounting controls to ensure their financial statements were not misleading.
In August and November of 2012, Saba Software announced that it would restate its financial results from 2008 through the middle of 2012. In March of 2013, the Company's founder and CEO abruptly resigned. Thereafter, on
April 9, 2013, the Company was delisted from the Nasdaq GM exchange. In addition, Saba Software stock price has dropped from
$13.08 per share on
March 26, 2012 to
$8.23 per share on
April 18, 2013. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Saba Software for failure to maintain adequate controls to ensure its financial statements were based on accurate information.
If you own shares of Saba Software and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact
Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602,
Bala Cynwyd, PA 19004, by e-mail at
http://brodsky-smith.com/569-saba-saba-software-inc.html, by calling toll free 877-LEGAL-90.
Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Brodsky & Smith, LLC