Omniture, Inc. Hit By Shareholder Lawsuit

An affronted broker filed a accusation in the 4th District Court of Utah County on account of accepted investors Omniture, Inc. (Public, NASDAQ:OMTR), who purchased the shares afore September 15, 2009, over declared breaches of fiduciary assignment and added violations of accompaniment law in affiliation with an declared arbitrary takeover price.

Those who currently are investors in shares of Omniture, Inc. (Public, NASDAQ:OMTR), and purchased the shares afore September 15, 2009, and / or accept added advice apropos to the investigation, should acquaintance the Shareholders Foundation, Inc. at email: mail(at)shareholdersfoundation.com or at: +1 (858) 779 – 1554. According to the complaint the plaintiff alleges that the Board of Omniture, Inc. breached their fiduciary duties to OMTR shareholders by declining to conduct a fair and accessible sales action in adjustment to aerate actor amount and accordant to arduous accord aegis accoutrement that cede the proposed transaction a foregone conclusion.

Omniture, Inc. (Nasdaq:OMTR) and Adobe Systems Incorporated (Nasdaq:ADBE) appear on September 15, 2009 that both companies accept entered into a absolute acceding for Adobe Systems to access Omniture in a transaction admired at about $1.8 billion on a absolutely adulterated equity-value basis. Under the agreement of the agreement, Adobe will arise a breakable action to access all of the outstanding accepted banal of Omniture for $21.50 per allotment in cash. According to Omniture the proposed action represents a exceptional of 45 percent over Omniture’s boilerplate closing amount for the endure 30 trading days.

A antecedent analysis by a law close said that “the transaction appears to be unfair” to accepted investors of Omniture, Inc. (Public, NASDAQ:OMTR) because the Omniture axle bootless “to conduct an accessible and fair arrangement action for Omniture, Inc.” and the “offer appears opportunistically timed to crop advantage of the accepted bread-and-butter downturn”. Another analysis anxious “whether the Omniture Board of Directors breached their fiduciary duties to Omniture shareholders by declining to conduct a fair and accessible sales action in adjustment to aerate actor value. Furthermore, at atomic one analyst set a $25 amount ambition for Omniture stock.” And one analysis alleged the accord even “suspicious because it appears from a analysis of the Company's banking statements that the inherent amount of the Company's banal is greater than $21.50 per share, at atomic one analyst believes that the Company is account $25 per allotment and aswell because the acceding contains accoutrement that dissuade added companies from authoritative a bigger offer.” Omniture, Inc., amid in Orem, UT, is a provider of online business enhancement software. The Company's software is acclimated by barter to administer and enhance online, offline, and multi-channel business initiatives. Omniture, Inc. appear in 2007 Total Revenue of $143.13million and in 2008 Total Revenue of $295.61million. Shares of Omniture, Inc. (NASDAQ:OMTR) traded at $17.35 per allotment afterwards the announvement and at $21.70 per allotment in afterwards hours. OMTR shares were down from a 52weekHigh of $22.45 per share, over $31 per allotment in 2008, and about $36 per allotment in 2007.