NEW YORK, May 17, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Sajan, Inc. (“Sajan” or the “Company”) (Nasdaq:SAJA) and the board of directors of Sajan regarding breaches of fiduciary duties and violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 related to the Company’s entry into an agreement to be acquired by Amplexor International SA (“Amplexor”). Under the terms of the agreement, shareholders of Sajan will receive $5.83 in cash for each share of Sajan common stock.
The Complaint alleges that the $5.83 merger consideration to be paid is inadequate. The Complaint further alleges that Defendants filed a Preliminary Proxy Statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the proposed transaction. It is alleged that the Proxy Statement omits material information with respect to the proposed transaction, which renders the Proxy Statement false and misleading.
If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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