The Law Firm of Weiss & Lurie Investigates M*Modal, Inc.
07 Juillet 2012 - 12:47AM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of M*Modal, Inc.
(Nasdaq: MODL) arising from its agreement for M*Modal to be
acquired by One Equity Partners, J.P. Morgan Chase & Co.’s
private investment arm, through a tender offer for $14.00 per
share. The tender offer is expected to commence on or before July
17, 2012 and is expected to close during the third quarter of
2012.
Weiss & Lurie is investigating whether M*Modal’s Board of
Directors breached their fiduciary duties to its shareholders by
failing to conduct a fair and adequate sale process and failing to
maximize shareholder value. The acquisition values M*Modal at 8.46
times EBITDA, compared with an average 21.3 times EBITDA among 10
comparable deals, according to data compiled by Bloomberg. In
addition, an analyst at one of M*Modal’s financial advisors for the
proposed transaction, RBC Capital Markets, set a price target of
$15 for M*Modal.
Moreover, RBC Capital Markets sits on both sides of the proposed
transaction creating a potential conflict of interest. In addition
to acting as a financial advisor to M*Modal, RBC Capital Markets is
also providing committed financing to One Equity Partners.
If you own M*Modal shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Michael A. Rogovin, Esq. either
by email at info@weisslurie.com or by telephone at (888)
593-4771.
Weiss & Lurie 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
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing, consumer
fraud, or anti-trust violations, please email us at
info@weisslurie.com or fill out the form on our website,
http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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