UBET Youbet.Com (MM)

Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Youbet.com, Inc. (“Youbet.com” or the “Company”) [NASDAQ:UBET] arising out of the proposed acquisition of Youbet.com by Churchill Downs Incorporated (“Churchill”).

On Wednesday, November 11, 2009, Youbet.com and Churchill announced that Youbet.com would be acquired by Churchill in a cash and stock offer valued at approximately $126.8 million. Under the terms of the agreement, Youbet.com stockholders will receive $0.97 in cash and 0.0598 shares of Churchill common stock in exchange for each share of Youbet.com common stock, subject to possible future adjustment to ensure that the transaction does not require Churchill to issue more than 19.6% of its outstanding common stock prior to the transaction. Pursuant to this proposed acquisition, Churchill may be underpaying for Youbet.com, thus unlawfully harming Youbet.com shareholders.

Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.

If you own Youbet.com common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Gustavo Bruckner or Derek Behnke Wolf Haldenstein Adler Freeman

  & Herz LLP

270 Madison Avenue New York, New York 10016

Phone Numbers:

(800) 575-0735

(212) 545-4600

 

Email:

bruckner@whafh.com

 

Classmember@whafh.com

 

Website: http://www.whafh.com

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