JDA Software Group, Inc. Under Shareholder Investigation
An investigation on behalf of current investors of JDA Software Group, Inc. (NASDAQ:JDAS) over possible breaches of fiduciary duty was announced.
JDA Software Group, Inc. is a provider of enterprise software solutions designed to enable planning, optimization and execution of merchandising and supply chain processes for manufacturers, wholesalers and distributors, and retailers, as well as government and aerospace defense contractors. JDA Software Group, Inc. reported in 2007 Total Revenue of $373.57million, in 2008 $390.33million, and in 2009 $385.80million. JDA Software Group acquired i2 Technologies Inc in a merger which closed January 28, 2010. JDA Software Group, Inc. recently announced a $246 million judgment against i2 Technologies Inc., a subsidiary of JDA.
On June 15, 2010, a Dallas County jury ordered JDA Software Group to pay Dillard's, Inc. more than $225 million in damages for fraud, breach of contract, and breach of warranty. According to the investigation by a law firm the investigation on behalf of current investors of JDA Software Group, Inc. (NASDAQ:JDAS) seeks to determine whether JDA and its Board violated their fiduciary duties by not disclosing the ongoing legal issues involving i2 prior to its acquisition. JDA Software Group, Inc. shares (JDAS) dropped 20% the day after the jury award was announced. Shares of JDA Software Group, Inc. (JDAS) traded recently at $23.05 per share, but were down from its 52weekHigh of $31.72 per share.