Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders of YouBet.com, Inc.

Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of YouBet.com, Inc. (“YouBet” or the “Company”) (Nasdaq:UBET) relating to the proposed acquisition by Churchill Downs, Inc. (“Churchill”). (Nasdaq:CHDN). Churchill has agreed to acquire YouBet in a cash and stock deal valued at approximately $126.8 million.

Under the proposed agreement, YouBet shareholders will receive approximately $2.84 per share based on a fixed ratio of 0.0598 Churchill common shares and $0.97 in cash for every share of YouBet common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the YouBet board’s approval of the proposed merger. The transaction appears to be unfair, in part, given that YouBet stock was trading at $3.71 a share as recently as August 3, 2009 and was trading at $3.50 a share on June 25, 2009.

If you own shares of YouBet and wish to discuss the legal ramifications of the proposed acquisition, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.

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