The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of Internet Brands, Inc. by Hellman & Fried...
21 Septembre 2010 - 12:39AM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors ("Board") of Internet Brands,
Inc. ("Internet Brands" or the "Company") (NASDAQ: INET) in
connection with their efforts to sell Internet Brands to Hellman
& Friedman Capital Partners VI, L.P. ("Hellman &
Friedman"). If the transaction is completed, Internet Brands
shareholders will receive $13.35 in cash for each share of Internet
Brands common stock they hold. The transaction is expected to be
completed in the fourth quarter of 2010.
Robbins Umeda LLP's investigation concerns whether Internet
Brand's Board undertook a fair process to obtain fair consideration
for all shareholders of Internet Brands. Specifically, our
investigation concerns whether members of the Company's Board
breached their fiduciary duties to Internet Brands shareholders by
failing to adequately shop the Company before entering into the
transaction with Hellman & Friedman. Of note, at least one
analyst set a target price for the Company at $14.00 per share.
Furthermore, Internet Brands Inc. reported strong revenues for
second quarter of 2010, growing 21% year over year.
If you are a shareholder of Internet Brands, plan to continue to
hold your shares, and would like more information about your rights
as a shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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