NEW YORK, June 22, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of ARI Network Services, Inc. ("ARIS" or the "Company") (NASDAQ: ARIS) in connection with the proposed acquisition of the Company by private equity firm, True Wind Capital Management, LLC ("TWC"). Under the terms of the agreement, the Company's shareholders will receive $7.10 in cash for each ARIS share they own.
WeissLaw is investigating whether ARIS's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company recently announced positive financial results for third quarter of fiscal year 2017. It reported revenue increased for the 13th consecutive quarter to a record $13.4 million, representing 12% period-over-period growth when compared to the $12.0 million reported in the same quarter of the previous year. ARIS also reported double-digit growth in cash generated from operations, increasing 24.1% to $3.2 million, and operating income, increasing 61.5% to $1.5 million. Finally, this transaction will privatize ARIS and exclude its shareholders from the Company's continued success and future growth prospects
Given these facts, WeissLaw is investigating whether ARIS's Board acted in the best interests of ARIS's public shareholders to maximize shareholder value prior to entering into the agreement. If you own ARIS shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/ari-network-services-inc/
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/weisslaw-llp-ari-network-services-inc-acquisition-may-not-be-in-the-best-interests-of-aris-shareholders-300478520.html
SOURCE WeissLaw LLP