NEW YORK, May 2, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Jive Software, Inc.
("JIVE" or the "Company") (NASDAQ: JIVE) in connection with
the proposed acquisition of the Company by ESW Capital, LLC
("ESW"). Under the terms of the agreement, JIVE shareholders
will receive $5.25 in cash for each
share they own.
WeissLaw is investigating whether JIVE's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $6.00. Additionally, JIVE recently
announced record financial results, reporting revenue $51.7 million in the fourth quarter of fiscal
year 2016 and annual revenues of $204.1
million, representing year-over-year growth of $1.5 million and $8.3
million respectively, and exceeding its annual guidance
range by $1.2 million on the high
end. CEO Elisa Steele
underscored the Company's financial success when she highlighted
"the fact that this is the third quarter in a row where [JIVE has]
delivered on [its] commitment to operate within a sustainably
profitable non-GAAP operating model." In forward-looking
statements, Ms. Steele confidently projected the future growth
prospects of the Company, stating that "[b]ased on the
transformation work [done] in 2016 to realign the [C]ompany, [JIVE
is] strategically poised for success as [it] enter[s] 2017."
Given these facts, WeissLaw is investigating whether JIVE's
Board acted in the best interests of JIVE's public shareholders to
maximize shareholder value prior to entering into the agreement. If
you own JIVE 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/jive-software-inc/
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SOURCE WeissLaw LLP
