The law firm of Wohl & Fruchter LLP is investigating the acquisition of all of the outstanding publicly-held shares of Saba Software, Inc. (OTC:SABA) ("Saba"). On February 10, 2015, after the markets closed, Saba announced that affiliates of Vector Capital ("Vector") had agreed to acquire all of the outstanding shares of Saba for $9.00 per share in cash, representing only a small premium over the closing price of Saba earlier that day. Saba's stock had previously closed at $13.49 per share on December 15, 2014, before dropping sharply following an announcement by Saba that, under a settlement with the Securities & Exchange Commission ("SEC"), if it did not file its delayed periodic reports with the SEC by February 15, 2015, then the Company's registration of its common stock would be subject to revocation. Previously, Saba had entered into a credit agreement ("Credit Agreement") with affiliates of Vector on July 5, 2013, providing Saba with a term loan of $25,000,000. The loan principal amount was subsequently increased by $5 million, and $15 million, pursuant to amendments to the Credit Agreement on February 28, 2014, and September 23, 2014, respectively. Wohl & Fruchter's investigation concerns the fairness of the price being paid, especially in light of the sharp drop in the price of Saba's stock after December 15, 2014, and the existence of any conflicts of interest motivating the transaction, including any arising from Vector's existing lending relationship with Saba. Persons with relevant information, and SABA shareholders with questions about this investigation, are invited to contact the attorney below, or our Firm by calling 866.833.6245. Additional information is available on our website at: http://www.wohlfruchter.com/cases/saba. About Wohl & Fruchter Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners. This release may be deemed to constitute attorney advertising.
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