NEW YORK, Dec. 20, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Care.com, Inc. ("CRCM" or the "Company") (NASDAQ: CRCM) in connection with the proposed acquisition of the Company by IAC (NASDAQ: IAC). Under the terms of the acquisition agreement, CRCM shareholders will receive $15.00 for each share they own.
If you own CRCM shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether CRCM's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, CRCM shares traded for $25.81 in March of this year, or $10.81 above the per-share offer price. Moreover, the Company recently announced positive financial results for the third quarter of 2019. It reported revenue of $53.3 million, representing an increase of 8% year-over-year when compared to the $49.2 million announced in the same period of the previous year. CRCM also announced total members grew 14% year-over-year from 30.8 million members to 35.2 million members.
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP