NEW YORK, Sept. 1, 2016 /PRNewswire/ -- WeissLaw LLP
announced that a class action was commenced in the United States
District Court for the Western District of Washington at Seattle on behalf of shareholders of Outerwall
Inc. ("Outerwall") seeking to pursue remedies under the Securities
and Exchange Act of 1934 (the "Exchange Act") in connection with
the proposed acquisition of Outerwall by affiliates of Apollo
Global Management, LLC ("Apollo").
On July 25, 2016, Outerwall and
Apollo announced that they had entered into a definitive agreement
pursuant to which an affiliate of Apollo commenced a tender offer
to purchase all of the outstanding shares of Outerwall common stock
for $52.00 in cash for each share of
Outerwall common stock ("Proposed Transaction"). The complaint
seeks injunctive relief on behalf of the named plaintiff and all
Outerwall shareholders. The plaintiff is represented by WeissLaw,
which has expertise in prosecuting investor class actions and
extensive experience in actions involving financial fraud.
The complaint alleges that in an attempt to secure shareholder
approval for the merger, the defendants filed a materially false
and/or misleading Recommendation Statement with the SEC in
violation of the Exchange Act. The omitted and/or misrepresented
information is believed to be material to Outerwall shareholders'
ability to make an informed decision whether to approve the
Proposed Transaction.
If you wish to serve as lead plaintiff, you must move the Court
no later than sixty days from today. If you wish to discuss this
action or have any questions concerning this notice or your rights
or interests, please contact plaintiff's counsel, Joshua M. Rubin of WeissLaw at 888.593.4771, or
by e-mail at stockinfo@weisslawllp.com. Any member of the putative
class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent
class member.
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 please email us at
stockinfo@weisslawllp.com.
Contact:
WeissLaw LLP
Joshua M. Rubin
1500 Broadway, 16th Floor
New York, NY 10036
212.682.3025
www.weisslawllp.com
stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP