NEW YORK, Sept. 8, 2016 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Interactive
Intelligence Group Inc. ("ININ" or the "Company") in connection
with the proposed acquisition of the Company by Genesys
Telecommunications Laboratories Inc. ("Genesys"). On August 31, 2016, the Company announced that it
had reached a definitive agreement for Genesys to acquire all
outstanding shares of ININ in a transaction valued at approximately
$1.4 billion. Under the terms
of the agreement, ININ shareholders will receive $60.50 in cash for each ININ share they
own.
WeissLaw is investigating whether ININ's Board acted to maximize
shareholder value prior to entering into the agreement. Notably,
prior to the announcement, at least one analyst set a target price
of $67.00, or $6.50 above the offer price. Moreover, the
Company recently announced positive financial results. It
reported total revenues of $108.8
million in the second quarter of fiscal year 2016,
representing a 13% year-over-year increase when compared to the
$96.3 million reported in the same
period of the previous year. Additionally, ININ reported a
43% increase in cloud subscription, from $21.9 million in the second quarter of 2015 to
$31.3 million.
Given these facts, WeissLaw is investigating whether ININ's
Board acted in the best interests of ININ's public shareholders to
maximize shareholder value prior to entering into the agreement. If
you own ININ 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