Court rules against Bazaarvoice acquisition; shares -16.2% premarket

|About: Bazaarvoice (BV)|By:, SA News Editor

A Northern California federal district court has ruled in favor of a DOJ suit (initially filed a year ago) opposing Bazaarvoice's (BV) acquisition of rival online review/social media engagement  platform PowerReviews on antitrust grounds. (PR)

Bazaarvoice says it won't decide whether to appeal until after "the Court concludes the remedy phase of the litigation." Remedy proceedings start on Jan. 22.

Bazaarvoice closed its acquisition of PowerReviews in June 2012. The company paid $31M in cash and issued 8M shares/options.