NEW YORK, June 9, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Marketo Inc. ("MKTO"
or the "Company") in connection with the proposed acquisition of
the Company by private equity firm Vista Equity Partners ("Vista").
On May 31, 2016, the Company
announced it had reached a definitive agreement for Vista to
acquire all outstanding shares of MKTO in a transaction valued at
approximately $1.79
billion. Under the terms of the agreement, MKTO
shareholders will receive $35.25 in
cash for each MKTO share they own.
WeissLaw is investigating whether MKTO's Board acted to maximize
shareholder value prior to entering into the
agreement. Notably, at least one analyst set a target price of
$55.00 per share, or approximately
$20.00 above the offer
price. Additionally, the Company recently announced positive
financial results for the first quarter of 2016. It reported
revenue of $62.2 million,
representing an increase of 16% year-over-year when compared to the
$46 million reported in the same
period of the previous year.
Given these facts, WeissLaw is investigating whether MKTO's
Board acted in the best interests of MKTO's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own MKTO 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/.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/marketo-inc-acquisition-may-not-be-in-the-best-interests-of-mkto-shareholders-300282525.html
SOURCE WeissLaw LLP