BIDZ.com Investor Alert: The Briscoe Law Firm & Powers Taylor, LLP Investigate BIDZ.com, Inc.’s Going Private Merger Agreem...
22 Mai 2012 - 8:56PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of BIDZ.com, Inc. (“BIDZ”) (NASDAQ:
BIDZ) to Glendon Group, Inc. for shareholders. Under the proposed
transaction, BIDZ shareholders will only receive $.78 in cash for
each share of BIDZ stock owned, which is well below at least one
analyst’s estimated value of $1.25 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, 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, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
According to shareholder rights attorney Willie Briscoe, “The
investigation relates to the fairness of the proposed transaction
to BIDZ shareholders and whether the Board of Directors is
adequately shopping the company in order to obtain the best
possible price for the shareholders. Notably, BIDZ shares were
trading at $1.79 per share on February 14, 2011, and at least one
analyst at Yahoo! Financial has estimated that the true inherent
value of the shares is $1.25 per share. Due to these and other
factors, we believe that the transaction may undervalue BIDZ stock,
so we will seek to obtain the highest share price for all
shareholders.”
The Briscoe Law Firm, PLLC 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.
Bidz.Com, Inc. (MM) (NASDAQ:BIDZ)
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