CASES
Chordiant Software, Inc.
Summary of Case:
A securities class action has been filed against Chordiant Software, Inc. (CHRD) ("Chordiant" or the "Company") on behalf of all securities purchasers of Chordiant Common Stock. The complaint was filed in the California Superior Court, Santa Clara County.
The claims arise out of the proposed transaction to cash out the Company's public shareholders in a merger for allegedly inadequate consideration and on unfair terms (the "Proposed Transaction''). Accordingly, in connection with the Proposed Transaction, the Individual Defendants have breached their fiduciary duties to shareholders of the Company.
The complaint alleges that Pegasystems seeks to acquire the publicly-held shares of Chordiant on unfair terms and without regard to the best interests of the Company's public shareholders or the intrinsic value of Chordiant's stock. If the Proposed Transaction is consummated, Pegasystems would acquire the public shareholders' interest in the Company, allegedly without paying a fair and adequate price, thereby irreparably harming Plaintiff and the Company's public shareholders.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.