NEW YORK, Jan. 10, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty
and other violations of law by the Board of Directors of MINDBODY,
Inc. ("MB" or the "Company") (NASDAQ: MB) in connection with the
proposed acquisition of the Company by Vista Equity Partners.
Under the terms of the agreement, MB shareholders will be
entitled to receive $36.50 in cash
for each share they hold.
If you own MB shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our website
http://www.weisslawllp.com/mindbody-inc/
Or follow us on Twitter @MarketsAlert
WeissLaw is investigating whether MB's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $45.00 per MB share, or $8.50 above the offer price. Additionally,
MB shares traded for $43.50 as
recently as September.
Moreover, the Company announced impressive financial results for
the third quarter of 2018. It reported total revenue of
$63.8 million, and subscription and
service revenue of $40.8 million;
this represents annual growth of 37% and 44%
respectively.
Given these facts, WeissLaw is concentrating its investigation
on whether MB's Board conducted a fair process in agreeing to the
proposed acquisition, 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
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SOURCE WeissLaw LLP