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Ancestry.com Inc. Message Board

  • A Yahoo! User Oct 22, 2012 2:22 PM Flag

    Shach Law LLC - The Investor & Consumer Advocates Are Seeking More Money for Ancestry Shareholders

    The attorneys of Shach Law LLC, the investor and consumer advocates, are seeking more money and more information for Ancestry shareholders but we NEED your help. Please contact us at client.relations @ shachlaw or call us at (610) 896-7170.

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    Shach Law Announces Investigation of Ancestry

    Wynnewood, Pa. – October 22, 2012

    Shach Law LLC is investigating potential claims against the board of directors of Ancestry (“Ancestry” or the “Company”) (NASDAQ: ACOM) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell Ancestry to Permira Funds (“Permira”). Under the terms of the proposed transaction, Company stockholders will receive $32.00 in cash for each share of Ancestry common stock they own. Although Ancestry’s public investors will be cashed out, Tim Sullivan, Ancestry’s President and Chief Executive Officer, and Howard Hochhauser, Ancestry’s Chief Financial Officer and Chief Operating Officer, will maintain a majority of their equity stakes in the company as part of the transaction. Spectrum Equity will also remain an investor in the company.

    The investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by Ancestry’s board of directors; in particular, whether the Company undertook a fair process to maximize consideration for all shareholders of Ancestry.
    If you own shares of Ancestry and would like to learn more about these claims, or if you wish to discuss these matters and have any questions concerning this announcement or your rights, please contact Shach Law LLC (Manny Shachmurove, Esquire) at (610) 896-7170, or by email at client.relations @ shachlaw.

    Shach Law LLC ("Shach Law") is a national shareholder litigation firm. Shach Law is dedicated to protecting the rights of investors and consumers against fraud, abuse and breaches of fiduciary duties. Shach Law empowers investors and consumers – the "little guys" – to stand up to corporate abuses at no cost to them: Shach Law is compensated based solely on the results we achieve for our clients. The attorneys at Shach Law have successfully represented clients in dozens of class action and derivative lawsuits and recovered more than $200,000,000 on behalf of shareholders and consumers.

 

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