Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Internet Brands,...
20 Settembre 2010 - 4:22PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Internet Brands, Inc. (“Internet Brands” or the “Company”)
(NasdaqGM: INET) for possible breaches of fiduciary duty and other
violations of state law in connection with their attempt to sell
the Company to Hellman & Friedman Capital Partners VI, L.P.
("Hellman & Friedman"). Under the terms of the going private
transaction, Internet Brands shareholders will receive $13.35 in
cash for each share of Internet Brands common stock they own for a
total transaction value of approximately $640 million.
The investigation concerns whether the Internet Brands Board of
Directors breached their fiduciary duties to Internet Brands
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Hellman & Friedman
is underpaying for Internet Brands shares, thus unlawfully harming
Internet Brands stockholders. In particular, at least one analyst
set a price target for Internet Brands stock at $14.00 per
share.
If you own common stock in Internet Brands 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 or
visit http://www.zlk.com/internetbrands-inet.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.
CONTACT:Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard
Korsinsky, Esq.30 Broad Street - 15th FloorNew York, NY 10004Tel:
(212) 363-7500Fax: (212) 363-7171www.zlk.com
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