Newman Ferrara LLP Announces Investigation of Concur Technologies, Inc.
Newman Ferrara LLP has begun an investigation into potential claims against the board of directors of Concur Technologies, Inc. ("Concur") (NASDAQGS: CNQR) concerning its proposed sale to SAP SE (NYSE: SAP).
Under the terms of the proposed transaction, Concur's stockholders will receive only $129.00 in cash for each share of Concur stock owned. However, Concur common stock has traded at above that offer price as recently as February 28, 2014, when it reached $129.33 per share. The proposed offer price is also below the 52-week trading high of Concur common stock of $130.39 per share.
Newman Ferrara LLP's investigation concerns whether Concur's Board of Directors has breached its fiduciary duties to act in the best interests of Concur's stockholders and to take all necessary steps to ensure that Concur's stockholders receive the maximum value readily available for their shares of Concur common stock.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at rshimon@nfllp.com to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
CONTACT:
Newman Ferrara LLP
Roy Shimon
1250 Broadway, 27 th Fl.
New York, NY 10001
rshimon@nfllp.com
212.619.5400