SAN DIEGO, Aug. 30, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Reis, Inc. (NASDAQ: REIS) breached
their fiduciary duties in connection with the proposed sale of the
Company to Moody's Corporation (NYSE: MCO) ("Moody's").
On August 30, 2018, Reis announced
that it had signed a definitive merger agreement with Moody's.
Under the terms of the merger agreement, Moody's will commence a
tender offer to acquire all issued and outstanding shares
of Reis common stock for $23.00 per share in
cash.
The investigation concerns whether the Reis board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Reis shares
of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has a $25.00
price target on the stock. Additionally, Reis
has no long-term debt.
If you are a shareholder of Reis and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing, please
include a phone number.
Additionally, you can [click here to join this
action]. There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP