STEVENSON, Md., July 8, 2015 /PRNewswire/ -- The securities
litigation law firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
Xoom Corporation ("Xoom" or the "Company") (NasdaqGS: XOOM)
relating to the proposed buyout of the Company by PayPal, Inc.
On July 1, 2015, Xoom announced it
had signed a definitive merger agreement with PayPal. Under the
terms of the transaction, Xoom shareholders are anticipated to
receive $25.00 in cash for each share
of Xoom common stock held. The transaction may undervalue Xoom
and may result in a substantial loss for many
shareholders. For example, according to Yahoo! Finance,
at least one Wall Street analyst has issued a price target for Xoom
stock at $32.00 per share.
The firm's investigation seeks to determine, among other things,
whether the Company's Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company's shares of common
stock.
If you currently own common stock of Xoom and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, please
visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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SOURCE Brower Piven, A Professional Corporation