NASDAQ:WBSN Investor Alert: Lawsuit in effort to Stop Takeover of Websense Inc. filed

The Shareholders Foundation announces that an investor, who currently holds NASDAQ:WBSN shares, filed a lawsuit in effort to stop the proposed takeover of Websense Inc.by Vista Equity Partners to acquire for $24.75 per share.

Investors who purchased shares of Websense Inc. prior to May 20, 2013, and currently hold any of those NASDAQ:WBSN shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

On May 20, 2013, Websense, Inc. announced that it has entered into an agreement to be acquired by Vista Equity Partners. Under the terms of the agreement, Websense stockholders will receive $24.75 in cash for each share of Websense common stock they hold.

However, the plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:WBSN stockholders arising out of the attempt to sell Websense, Inc too cheaply via an unfair process to Vista Equity Partners.

The plaintiffs says that the $24.75-offer is unfair to NASDAQ:WBSN stockholders and undervalues the company. Indeed, shares of Websense Inc. grew from under $10 in 2009 to as high as $27.82 per share in July 2012. Furthermore, the financial performance of Websense Inc. improved lately. For instance, it reported that its annual Total Revenue rose from $313.71 million in 2009 to $364.18 million in 2011 and its Net Loss of $10.70 million turned to a Net Income of $30.99 million in 2011.

On June 17, 2013, NASDAQ:WBSN shares closed at $24.73 per share.

Those who are current investors in Websense Inc. have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Posted by on Jun 18 2013. All trademarks acknowledged. Filed under Press Release. Comments and Trackbacks closed. Follow responses: RSS 2.0

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