Block & Leviton LLP Investigates Responsys, Inc. for Possible Breaches of
Fiduciary Duty in Connection with Its Acquisition by Oracle Corp.
BOSTON, Dec. 20, 2013
BOSTON, Dec. 20, 2013 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com),
a Boston-based law firm representing investors nationwide, has commenced an
investigation into possible breaches of fiduciary duty by the Board of
Directors of Responsys, Inc. ("Responsys" or the "Company") (NASDAQ:MKTG)
concerning the proposed acquisition of the Company by Oracle Corp. ("Oracle"),
in a transaction valued at approximately $1.5 billion. Under the terms of the
transaction, Oracle will acquire each Responsys share for $27.00, representing
a paltry premium of 38% to Responsys' closing share price on Thursday,
December 19, 2013.
Responsys' share price has been spiking over the last year. Its value has
grown by a stunning 231% in just the past year alone and shows no sign of
stopping, having gained more than 25% in just the previous 6 weeks. Thus, the
so-called premium appears to significantly undervalue the Company
Block & Leviton's investigation seeks to determine, among other things,
whether Responsys' Directors breached their fiduciary duties by failing to
maximize shareholder value in the proposed acquisition by Oracle and the
fairness by which the Responsys' Directors considered and approved the
If you are a Responsys shareholder and have questions about your legal rights,
or if you have information relevant to this investigation, please contact
attorney Steven P. Harte, at (617) 398-5600 or email him at
Block & Leviton is a Boston-based law firm representing investors nationwide
for violations of securities laws. The firm's lawyers have collectively been
prosecuting securities cases on behalf of investors for over 50 years. This
notice may constitute attorney advertising.
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
SOURCE Block & Leviton LLP
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