The Briscoe Law Firm Announces Investigation of MediaMind Technologies Inc.
2011年6月22日 - 12:36AM
ビジネスワイヤ(英語)
Former state prosecutor and enforcement attorney for the United
States Securities and Exchange Commission, Willie Briscoe, founder
of The Briscoe Law Firm, PLLC, and the securities litigation law
firm of Powers Taylor, LLP have announced that the firms are
investigating the Board of Directors of MediaMind Technologies Inc.
(“MediaMind” or “MDMD”) (NASDAQ: MDMD) for potential breaches of
fiduciary duty and other legal claims related to the acquisition of
MediaMind by DG FastChannel, Inc.
The definitive merger agreement involves an all-cash transaction
valued at approximately $418.5 million. Under the proposed buyout,
MediaMind shareholders will receive only $22.00 in cash for each
share of MediaMind/MDMD common stock they hold. The transaction is
expected to closed in the third quarter of 2011.
The firms are investigating the fairness of the proposed
transaction to MediaMind shareholders, whether the shareholders are
being underpaid for their stock, and whether MediaMind’s Board of
Directors acted in the shareholders’ best interests. In particular,
although the acquisition price represents a premium over
MediaMind’s closing price the day before the announcement, as
recently as May 31, 2011 MediaMind’s shares closed at nearly $17.50
per share. Further, at least one analyst has set a target price of
$23.00 per share for MediaMind Stock. In addition, on May 11, 2011,
MediaMind reported first quarter financial results that exceeded
analysts’ expectations. Based on these and other factors, the firms
do not believe that the acquisition price is fair to MediaMind
shareholders.
If you currently own shares of MediaMind/MDMD and would like
additional information regarding this investigation, or if you have
information regarding the allegations involved in this transaction,
please contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie
Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or
via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or
fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
Mediamind Technologies Inc. (MM) (NASDAQ:MDMD)
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