NEW YORK, Nov. 11, 2016 /PRNewswire/ -- Harwood Feffer
LLP (www.hfesq.com) is investigating claims against the board of
directors of TubeMogul, Inc. ("TubeMogul" or the "Company")
(NasdaqGS: TUBE) concerning whether the board breached its
fiduciary duties to shareholders in connection with the proposed
transaction with Adobe Systems Incorporated ("Adobe").
Under the terms of the definitive merger agreement between the
Company and Adobe, announced on November 10,
2016, TubeMogul's stockholders will receive $14.00 per share in cash, which is significantly
lower than, according to Yahoo! Finance, at least one Wall Street
analyst's estimated price target of $17.00 per share. The total transaction value of
the deal anticipated to close in the first quarter of fiscal 2017
is approximately $540 million, net of
cash and debt.
TubeMogul "could have attracted a better deal down the road if
it had been able to execute further as a standalone entity,"
Boenning & Scattergood analyst Murali
Sankar said in commenting on the proposed buyout. Sankar
further added that "This is a great deal for Adobe. I don't think
they're paying a lot."
Our investigation concerns whether the TubeMogul's board of
directors has fulfilled its fiduciary duties to TubeMogul's
shareholders, including adequately pursuing alternatives to the
acquisition and obtaining the best price possible for TubeMogul's
shareholders.
If you own TubeMogul shares and wish to discuss this matter with
us, or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.
Tanya Korkhov, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212) 935-7400
Email: tkorkhov@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the
firm.
Attorney Advertising. The law firm responsible for this
advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results
do not guarantee or predict a similar outcome with respect to any
future matter.
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SOURCE Harwood Feffer LLP