SAN DIEGO, Dec. 20, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Care.com, Inc. (NYSE: CRCM) ("Care") breached their fiduciary duties in connection with the proposed sale of the Company to IAC/InterActiveCorp ("IAC").
On December 20, 2019, Care announced that it had signed a definitive merger agreement with IAC. Under the terms of the merger agreement, IAC will acquire all outstanding shares of Care common stock for $15.00 per share in cash. In addition, the holder of Care series A convertible preferred stock will be able to tender its shares in exchange for a cash payment equal to 150% of its liquidation preference, plus accrued and unpaid dividends.
The investigation concerns whether the Care board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Care shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration. The 52-week high for Care was $25.81.
If you are a shareholder of Care and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP