September 18, 2015

Bernstein Liebhard LLP is investigating whether the Board of Directors (the “Board”) of Envivio, Inc. (“Envivio” or the “Company”) (NASDAQ: ENVI) breached its fiduciary duties to its shareholders relating to the proposed buyout (the “Buyout”) of the Company by Ericsson.

Under the terms of the Buyout, Ericsson will commence a cash tender offer to purchase all of Envivio’s outstanding shares, with a merger following the completion of the tender offer which would result in all shares not tendered in the tender offer being converted into the right to receive $4.10 per share.  Certain of Envivio’s major stockholders, collectively owning approximately 34 percent of Envivio’s outstanding common stock, have entered into a tender and support agreement with Ericsson committing to tender all of their Envivio shares in the tender offer and to vote in favor of the Buyout.

The investigation is focused on whether the Board breached its fiduciary duties to Envivio shareholders, including whether the Board acted to maximize shareholder value when it approved the Buyout.

If you are interested in discussing your rights as an Envivio stockholder, with no obligation or cost to you, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or

Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients.  The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.