Taleo Class Action Lawsuit Filed on Behalf of Investors in Taleo Corporation Alleging Breaches of Fiduciary Duty by the Taleo Board in Connection with Acquisition of Taleo by Oracle Corporation
Taleo Class Action Lawsuit was filed by Investors in Taleo Corporation (NASDAQ:TLEO) alleging breaches of fiduciary and violations of other state law against the Taleo Board in connection with the sale of the company to Oracle Corporation. Specifically, the complaint concerns whether the Taleo Board of Directors breached their fiduciary duties to Taleo stockholders by failing to adequately shop the Company before entering into this transaction and whether Oracle Corporation is underpaying for Taleo shares, thus unlawfully harming Taleo stockholders. Furthermore, at least one analyst set a price target 13% higher than the price offered per Taleo share.
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