BUYOUT OF ONLINE - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
January 31, 2013
New York, New York
Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of Online Resources Corp. ACI Worldwide and Online Resources have entered into a definitive transaction agreement under which ACI Worldwide would acquire Online Resources for $3.85 per share in cash in a transaction valued at an enterprise value of approximately $263 million, which includes the redemption of Online Resources’ preferred stock. ACI Worldwide will commence a cash tender offer to purchase all outstanding shares of common stock of Online Resources no later than February 15, 2013
The investigation concerns whether the board of directors of Online breached their fiduciary duties by not engaging in a full and fair auction for the company in order to obtain the highest price possible for shareholders while not obtaining personal benefits for themselves. Indeed, the book value alone of the company is worth over $4.04 per share.
If you are a shareholder of Online and would like additional information concerning this matter at no cost please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy