SAN DIEGO, Nov. 18, 2016 /PRNewswire/ -- Robbins Geller
Rudman & Dowd LLP ("Robbins Geller") today announced that a
class action has been commenced on behalf of holders of The
Interactive Intelligence Group, Inc. ("Interactive Intelligence")
(NASDAQ:ININ) common stock on September 30,
2016, in connection with the acquisition of Interactive
Intelligence by Genesys Telecommunications Laboratories, Inc.
This action was filed in the Southern District of Indiana and is captioned Trahan v.
Interactive Intelligence Group, Inc., et al., No.
16-cv-03161.
![Robbins Geller, with 200 lawyers in ten offices, represents U.S. and international institutional investors in contingency-based securities and corporate litigation. The firm has obtained many of the largest securities class action recoveries in history, including the largest securities class action judgment. Please visit http://www.rgrdlaw.com for more information. (PRNewsFoto/Robbins Geller Rudman & Dowd LLP) Robbins Geller, with 200 lawyers in ten offices, represents U.S. and international institutional investors in contingency-based securities and corporate litigation. The firm has obtained many of the largest securities class action recoveries in history, including the largest securities class action judgment. Please visit http://www.rgrdlaw.com for more information. (PRNewsFoto/Robbins Geller Rudman & Dowd LLP)](https://photos.prnewswire.com/prnvar/20150415/198876LOGO)
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from today. If you wish to discuss this
action or have any questions concerning this notice or your rights
or interests, please contact plaintiff's counsel, Darren Robbins of
Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at
djr@rgrdlaw.com. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member.
The complaint charges Interactive Intelligence, its Board of
Directors (the "Board"), Genesys Telecommunications Laboratories,
Inc., one of its subsidiaries and three of its affiliated parent
companies (collectively, "Genesys") with violations of the
Securities Exchange Act of 1934 ("1934 Act") in connection with the
acquisition of Interactive Intelligence by Genesys. Interactive
Intelligence is a global leader of cloud and on-premise solutions
for customer engagement, communications and collaboration, with
offices in Indianapolis,
Indiana.
On August 31, 2016, Interactive
Intelligence announced that it would be acquired by Genesys
pursuant to an agreement and plan of merger (the "Merger
Agreement") entered into on August 30,
2016. Pursuant to the terms of the Merger Agreement,
stockholders of Interactive Intelligence will receive $60.50 in cash for each share of Interactive
Intelligence common stock owned (the
"Acquisition"). Interactive Intelligence shareholders voted in
favor of the Acquisition on November 9,
2016, and the Company has announced it anticipates the
Acquisition will close in early December
2016.
The complaint alleges that in connection with the Acquisition,
the defendants willfully or recklessly breached, and/or aided and
abetted breaches of, fiduciary duties owed to Interactive
Intelligence shareholders, and that the Acquisition is the product
of a flawed process that resulted in an unfair price. In
addition, the complaint alleges that in an attempt to secure
shareholder support for the unfair Acquisition, on September 20, 2016, defendants issued a
materially false and misleading Preliminary Proxy on Schedule 14A,
and on October 4, 2016, defendants
issued a materially false and misleading Definitive Proxy on
Schedule 14A (collectively, the "Proxy"). The Proxy, which
recommends that Interactive Intelligence shareholders vote in favor
of the Acquisition, omits and/or misrepresents material information
and critical data, inputs and assumptions included in the fairness
analyses of the Board's financial advisor, Union Square Advisors
LLC ("Union Square"), and elements of managements' projections
relied upon by Union Square in its fairness analyses, in willful or
reckless contravention of defendants' fiduciary duties and in
violation §§14(a) and 20(a) of the 1934 Act. Without this
material information, Interactive Intelligence shareholders were
prevented from making a fully informed decision as to the
Acquisition and the adequacy of the Acquisition consideration.
Plaintiff seeks damages and injunctive relief on behalf of
holders of Interactive Intelligence common stock on September 30, 2016. The plaintiff is represented
by Robbins Geller, which has extensive experience in prosecuting
investor class actions including actions involving financial
fraud.
Robbins Geller is widely recognized as one of the leading law
firms advising U.S. and international institutional investors in
securities litigation and portfolio monitoring. With 200 lawyers in
10 offices, Robbins Geller has obtained many of the largest
securities class action recoveries in history and was ranked first
in both the total amount and number of shareholder class action
recoveries in ISS's SCAS Top 50 Report for the last two
years. Robbins Geller attorneys have shaped the law in the
areas of securities litigation and shareholder rights and have
recovered tens of billions of dollars on behalf of the Firm's
clients. Robbins Geller not only secures recoveries for
defrauded investors, it also strives to implement corporate
governance reforms, helping to improve the financial markets for
investors worldwide. Please visit http://www.rgrdlaw.com for
more information.
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