NEW YORK, June 7, 2017 /PRNewswire/ -- The proposed
acquisition of Xactly Corporation ("XTLY" or the "Company") (NYSE:
XTLY) by Vista Equity Partners ("Vista") is the subject of an
examination by WeissLaw LLP, a national class action, shareholders
rights law firm. On May 30,
2017, XTLY announced that it had entered into a definitive
agreement to be acquired by Vista. Under the terms of the
agreement, the Company's shareholders will receive $15.65 in cash for each XTLY share they own.
WeissLaw is investigating whether XTLY'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, or nearly $5.00 above the offer price. Additionally,
on the same day as the acquisition announcement, the Company
preliminarily announced positive financial result for the first
quarter of fiscal year 2018. In a separate press release XTLY
announced that "[t]otal revenue is expected to be approximately
$24.6 million and subscription
revenue is expected to be $19.5
million;" representing year-over-year increases of
$1.3 million and $2.2 million respectively when compared to the
$23.3 million in total revenue and
the $17.3 million in subscription
revenue reported in same period of the previous
year.
Given these facts, WeissLaw is investigating whether XTLY's
Board acted in the best interests of XTLY's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own XTLY 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/xactly-corporation/
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SOURCE WeissLaw LLP