Ryan & Maniskas, LLP Announces Investigation of the Acquisition of Phase Forward Incorporated by Oracle Corp.
April 16 2010 - 2:00PM
Business Wire
Ryan & Maniskas, LLP commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by members of the Board of Directors of Phase Forward
Incorporated (“Phase Forward” or the “Company”) (NASDAQ: PFWD) in
connection with their actions in causing Phase Forward to enter
into a merger agreement with Oracle Corp. (“Oracle”) (NASDAQ:
ORCL).
Under the terms of proposed agreement, Oracle will pay Phase
Forward shareholders $17.00 per share for each share of Phase
Forward common stock outstanding. Our investigation concerns
whether the deal undervalues Phase Forward shareholders and also
concerns possible breaches of fiduciary duty and other violations
of law related to approval of the transaction by Company’s board of
directors.
If you own shares of Phase Forward and would like to learn more
about these claims or if you wish to discuss these matters and have
any questions concerning this announcement or your rights, contact
Richard A. Maniskas, Esquire toll-free: (877) 316-3218 or visit:
www.rmclasslaw.com/cases/phaseforward. You may also email Mr.
Maniskas at rmaniskas@rmclasslaw.com. For more information about
class action cases in general, please visit our website:
www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan and Maniskas, LLP is devoted to protecting the interests
of individual and institutional investors in shareholder class,
derivative and ERISA actions in state and federal courts
nationwide.
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