NEW YORK, May 4, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Opower Inc. ("OPWR"
or the "Company") in connection with the proposed acquisition of
the Company by Oracle Corporation ("Oracle"). On May 2, 2016, the Company announced it had reached
a definitive agreement for Oracle to acquire all outstanding shares
of OPWR in a transaction valued at approximately $532 million. Under the terms of the
agreement, OPWR shareholders will receive $10.30 in cash for each OPWR share they
own.
WeissLaw is investigating whether OPWR's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $20.00 per share, or $9.70 above the offer price. Additionally,
the Company's shares traded above the offer price as recently as
December 30, 2015 when OPWR shares
sold for $10.96. Further, OPWR
recently announced positive financial results for fiscal year
2015. It reported revenue of $148.7
million, representing an increase of 16%
year-over-year.
Given these facts, WeissLaw is investigating whether OPWR's
Board acted in the best interests of OPWR's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own OPWR shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone
at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP