Shareholder Alert: The Briscoe Law Firm Investigates Internet Brands, Inc.’s Board Concerning the Acquisition of Internet B...
20 Septembre 2010 - 5:51PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Internet Brands, Inc. (“Internet Brands” or “INET”) (NASDAQ:
INET) related to the proposed acquisition of Internet Brands by an
affiliate of Hellman & Friedman Capital Partners VI, LP, a
private equity investment firm.
The definitive merger agreement, which was announced on
September 20, 2010, involves a transaction valued at approximately
$640 million, under which Internet Brands shareholders will receive
$13.35 in cash for each share of Internet Brands/INET common stock
they hold. Although the proposed acquisition price represents an
approximate 46.5% premium over Internet Brands’ closing price on
September 17, 2010, based on historical stock prices in 2010 of
over $11.20 per share, the proposed price appears to be unfair to
Internet Brands shareholders.
The investigation relates to possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Internet Brands for approving this transaction, whether the
consideration to be received by Internet Brands shareholders is
fair, and whether Internet Brands’ Board of Directors acted in the
shareholders’ best interests.
If you currently own shares of Internet Brands/INET and would
like additional information regarding this investigation, or if you
have information regarding the allegations involving this
transaction, please contact Patrick Powers at Powers Taylor, LLP,
toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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