NEW YORK, Feb. 11, 2016 /PRNewswire/ -- The proposed
acquisition of LeapFrog Inc. ("LeapFrog" or the "Company") by
VTech Holdings Ltd. ("VTech") is being investigated by WeissLaw LLP
for possible breaches of fiduciary duty and other violations of law
by the Board of Directors of LeapFrog. On February 5, 2016, the Company announced it had
reached a definitive agreement for VTech to acquire all outstanding
shares of LeapFrog in a transaction valued at approximately
$72 million. Under the terms of
the agreement, LeapFrog shareholders will receive $1.00 in cash for each share they own.
WeissLaw is investigating whether LeapFrog's Board acted to
maximize shareholder value prior to entering into the
agreement. Notably, the Company's shares traded for
$1.15 as recently as October of
2015. Additionally, at least one analyst set a target price
of $3.50 per share, or three and a
half times the offer price.
Given these facts, WeissLaw is investigating the LeapFrog Board
of Directors' decision to sell LeapFrog and whether LeapFrog
shareholders will obtain their fair proportionate share of the
Company's continued success and future growth prospects. If
you own LeapFrog shares and would like more information about your
rights or our investigation, please contact Joshua Rubin either by telephone at (888)
593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP