OpenTable Inc (OPEN) Investor Lawsuit to Halt Takeover Announced by Shareholders Foundation
June 30 2014 - 9:35AM
The Shareholders Foundation, Inc. announces that an investor, who
currently holds OpenTable Inc (OPEN) shares, filed a lawsuit in
effort to halt the proposed takeover of OpenTable Inc by The
Priceline Group Inc for $ 103 per share.
Investors, who purchased shares of OpenTable Inc (OPEN) prior to
June 13, 2014 and currently hold any of those shares, have certain
options and should contact the Shareholders Foundation, Inc. at
mail@shareholdersfoundation.com or call +1 (858) 779-1554.
On June 13, 2014, The Priceline Group Inc. (PCLN) and OpenTable,
Inc. (OPEN) announced that they have entered into an agreement
whereby The Priceline Group will acquire OpenTable
for $103 per share in an all cash transaction valued
at $2.6 billion.
However, the plaintiff claims that the offer is too low and
undervalues OpenTable, Inc. Indeed, shares of OpenTable rose
following the takeover announcement in the open market to as high
as $106.30 per share on June 23, 2014. In addition, the plaintiff
claims that the process is unfair to OpenTable, Inc stockholders.
Indeed, On June 12, 2014, certain officers and directors of
OpenTable, Inc who own approximately 7% of the outstanding shares
of common stock of the Company have already agreed to support the
proposed takeover.
On June 27, 2014, shares of OpenTable, Inc. closed at $104.01
per share.
Those who currently are investors in OpenTable, Inc shares and
purchased any of those OpenTable, Inc shares prior to the
announcement have certain options and should contact the
Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Trevor Allen
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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