Eloqua, Inc. (ELOQ) is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Eloqua, Inc. (“Eloqua” or the “Company”) (NASDAQ: ELOQ) for potential breaches of fiduciary duties in connection with their duty to disclose material information in the Preliminary Proxy (“Proxy”) filed with the Securities and Exchange Commission on January 8, 2013 in relation to the sale of the Company to Oracle Corporation (NASDAQ: ORCL) in an all-cash deal valued at approximately $871 million. Furthermore, the price per share agreed to in the proposed transaction is also under investigation since Eloqua's stockholders will receive only $23.50 in cash for each share of Eloqua common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $27.00 for Eloqua.
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The investigation focuses on whether Eloqua's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to disclose all material information in the Proxy and to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Eloqua's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Eloqua and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ELOQ or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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