Welcome!

Recurring Revenue Authors: Elizabeth White, Yeshim Deniz, Xenia von Wedel, Liz McMillan, Carmen Gonzalez

News Feed Item

Acquisition of Eloqua, Inc. by Oracle Corporation May Not Be in Eloqua's Shareholders' Best Interests

SAN DIEGO & VIENNA, Va., Dec. 21, 2012 /PRNewswire/ -- Shareholder rights attorneys at Robbins Umeda LLP are investigating possible breaches of fiduciary duty and other violations of the law by members of the board of directors of Eloqua, Inc. (NASDAQ: ELOQ) in connection with their efforts to sell the company to Oracle Corporation (NASDAQ: ORCL).  Eloqua is a provider of cloud-based marketing automation and revenue performance management software.

(Logo: http://photos.prnewswire.com/prnh/20111014/ROBBINSUMEDALOGO)

On December 20, 2012, Eloqua and Oracle announced they had entered into an agreement under which Oracle will acquire Eloqua through an all cash offer that values the company at $810 million.  Eloqua shareholders will receive $23.50 per share.  The transaction is expected to close in the first half of 2013.

The Board of Directors' Actions May Prevent Eloqua Shareholders from Receiving the Maximum Value for Their Stock

Robbins Umeda LLP's investigation focuses on whether the board of directors at Eloqua is undertaking a fair process to obtain maximum value and adequately compensate its shareholders. The $23.50 per share offer price is substantially below target prices set by several analysts.  For example, an analyst at J.P. Morgan set a target price of $27 and an analyst at Needham & Company set a target price of $26.  Further, the $23.50 per share offer price is significantly below the $24.83 share price the stock traded at on November 1, 2012.  Further, on October 24, 2012, Eloqua announced strong financial results for the third quarter 2012.  For the quarter, the company reported record revenue of $23.8 million, an increase of 30% over the same quarter in 2011.  Moreover, subscription and support revenues increased 32% over the same quarter in 2011.  Given, these facts, the firm is examining whether the board of directors' decision to sell Eloqua for $23.50 per share is fair to shareholders and maximizes the value for their shares. 

Eloqua shareholders have the option to file a class action lawsuit against the company to secure the best possible price for shareholders and the disclosure of material information so shareholders can vote on the transaction in an informed manner.  Eloqua shareholders interested in information about their rights and potential remedies can contact Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.

Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to http://www.robbinsumeda.com.

Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/eloqua-inc/

Attorney Advertising.Past results do not guarantee a similar outcome.  

Contact:
Robbins Umeda LLP
Darnell R. Donahue
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsumeda.com

SOURCE Robbins Umeda LLP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...