Morgan & Morgan Announces That a Shareholder Class Action Has Been Filed in Connection With the Sale of Saba Software, Inc. - SABA


NEW YORK, Feb. 24, 2015 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a shareholder class action has been filed in the Delaware Court of Chancery against the Board of Directors of Saba Software, Inc. ("Saba" or the "Company") (Other OTC:SABA) concerning the proposed acquisition of the Company by Vector Capital ("Vector") for about $300 million.

Under the terms of the transaction, Saba shareholders will receive $9.00 in cash for each share of Saba Software stock they own. The investigation concerns whether the Board of Saba Software breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Vector is underpaying for Saba shares. Saba stock has traded above the offer price as recently as February 6, 2015, and traded as high as $13.70 per share in December 2014.

If you purchased Saba shares, and want more information about the Saba takeover lawsuit, contact Morgan & Morgan at 1(800) 732-5200 or email info@morgansecuritieslaw.com

About Morgan & Morgan

Morgan & Morgan is one of the nation's largest 200 law firms. In addition to shareholder rights, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."

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