NEW YORK, June 12, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the board of directors of Grubhub, Inc.
("GRUB" or the "Company") (NYSE: GRUB) in connection with the
proposed acquisition of the Company by Just Eat Takeaway.com N.V.
(AMS: TKWY, LSE: JET) ("Just Eat Takeaway"). Under the terms
of the acquisition agreement, GRUB shareholders will receive
American depositary shares ("ADS") representing 0.671 ordinary
shares of Just Eat Takeaway, for each GRUB share that they
own. The merger consideration represented an implied
per-share value of approximately $62.29 based on Just Eat Takeaway's June 11, 2020 closing price of $92.83.1
If you own GRUB shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/grubhub-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether GRUB's board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, GRUB recently announced positive
financial results, including first quarter 2020 revenue of
$363 million compared to $323.8 million reported in the same period of
2019, representing a year-over-year increase of 12%.
Moreover, at closing GRUB stockholders will own ADSs
representing a mere 30% of the combined company.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
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
__________________________
1 Converted to
USD from EUR at an exchange rate of 1.1288 at closing on
June 11, 2020.
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SOURCE WeissLaw LLP