The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of ...
28 Ottobre 2010 - 6:10PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Rewards Network Inc. (“Rewards Network” or the “Company”)
(NasdaqCM: DINE) for possible breaches of fiduciary duty and other
violations of state law in connection with their attempt to sell
the Company to EQI Acquisition, L.L.C. (“EQI Acquisition”), an
affiliate of Equity Group Investments, L.L.C. (“EQI”). Under the
terms of the transaction, Rewards Network shareholders will receive
$13.75 in cash for each share of Rewards Network common stock they
own for a total transaction value of approximately $126 million.
EGI Acquisition currently owns approximately 14.2% of the
outstanding shares of Rewards Network common stock. Certain other
affiliates of EGI collectively own approximately 12.1% of the
outstanding shares of Rewards Network common stock and have agreed
to tender such shares in the offer.
Click here to learn how to join the action:
http://www.zlk.com/rewards-network-dine.html, or call:
877-363-5972.
The investigation concerns whether the Rewards Network Board of
Directors breached their fiduciary duties to Rewards Network
stockholders by failing to adequately shop the Company before
entering into this transaction and whether EQI Acquisition is
underpaying for Rewards Network shares, thus unlawfully harming
Rewards Network stockholders. In particular, Rewards Network stock
has traded as high as $14.46 per share as recently as October 26,
2010 and the average closing price for Rewards Network stock for
the prior three-months was approximately $14.09 per share.
If you own common stock in Rewards Network and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit http://www.zlk.com/
rewards-network-dine.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. For more information, please feel free to contact any
of the attorneys listed below.
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