I contacted the law firm and they sent me the merger agreement, and it has a provision that management put in that says that if another company wants to make a higher offer it has to pay a penalty fee of $15 million. How is this fair? Shouldn't management want a bidding war? They obviously did this to protect the sweetheart deal they negotiated for themselves and don't care about shareholders. Count me in this lawsuit!
On May 9, 2013, a class action lawsuit was filed in the United States District Court for the District of Massachusetts against AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is January 3, 2012 through May 1, 2013.
Plaintiff seeks to recover damages on behalf of all AVEO Pharmaceuticals, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. If you are an investor with losses in excess of $25,000 you may be eligible to actively participate in the action along with other shareholders.
If you wish to discuss this action, obtain further information or participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact Tripp Levy PLLC at 1-877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Market Leader Inc. by Truilia. Trulia, Inc. (NYSE: TRLA, “Trulia”), announced today that it has entered into a definitive agreement to acquire Market Leader, Inc. (NASDAQ: LEDR, “Market Leader”), for approximately $355 million, or an implied price of $11.33 per share (based on Trulia’s closing share price on Tuesday, May 7, 2013). Market Leader’s shareholders will receive $6.00 in cash and 0.1553 shares of Trulia’s common stock for each share of Market Leader common stock
The investigation concerns whether the board of directors of Market Leader breached their fiduciary duties by only dealing with Trulia and not engaging in a full and fair auction for the company as a result of potentially negotiating personal pay packages and other benefits for themselves to sell the company to Trulia. Indeed, the company has over $20 million of cash on its books accounting for just under $1 per share which will go to Trulia to pay down the costs of the acquisition.
If you are a shareholder of LEDR and would like additional information concerning this matter at no cost or obligation please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the potential acquisition of Hondo Minerals Corp. Hondo Minerals Corporation (OTCBB:HMNC.OB) announced that the Company has entered into a binding Letter of Intent with Crowncorp Investments Corporation, for the sale of 100% of the Company's assets and issued and outstanding stock for a purchase price of $88 million, which includes $13 million in working capital to be retained in the Company post-closing (the "Acquisition").Of the total $88 million to be provided by Crowncorp, it is anticipated that the Company's shareholders will receive $75 million less the retirement of current debts and Hondo's transactional expenses.
The investigation concerns whether the board of directors of Hondo is fulfilling their fiduciary duties to shareholder by obtaining the maximum amount for their shares through a fair and open sale process. If you are a shareholder of Hondo and would like additional information regarding this matter, please contact us at 1-877-772-3975 or email at contact @ tripplevy