NEW YORK, Feb. 5, 2016 /PRNewswire/ -- Milberg LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of LeapFrog Enterprises
Inc. ("LeapFrog") (NYSE: LF) in connection with the proposed
acquisition of LeapFrog by Hong-Kong-based VTech Holdings Limited
("VTech").
On February 5, 2016, LeapFrog
announced that it had entered into an agreement and plan of merger
to be acquired by VTech through an all cash tender offer that is
expected to commence on or about March 3,
2016. Under the terms of the proposed transaction,
LeapFrog's stockholders will receive only $1.00 in cash for each share of LeapFrog stock
owned. However, the proposed offer price falls well below the
$3.50 per share high price target set
by analysts and below the 52-week trading high of LeapFrog stock of
$2.68 per share. LeapFrog
common stock has traded at above the proposed offer price as
recently as October 19, 2015, when it
reached $1.06 per share.
Milberg LLP's investigation focuses on the potential unfairness
of the consideration being provided to LeapFrog's stockholders and
the process by which LeapFrog's Board of Directors considered and
approved the proposed deal.
Concerned investors are invited to contact the Milberg attorneys
listed below to discuss the investigation, their rights, or
potential remedies.
Founded in 1965, Milberg LLP was one of the first law firms to
prosecute class actions in federal courts on behalf of investors
and consumers and has been representing investors and
consumers for more than four decades. Milberg LLP is widely
recognized as a leader in defending the rights of victims of
corporate and other large-scale wrongdoing, serving as lead counsel
in federal and state courts throughout the United States. For
more information, please visit the firm website at
www.milberg.com.
Contacts
Milberg LLP
Kent A. Bronson
kbronson@milberg.com
Todd Kammerman
tkammerman@milberg.com
(212) 594-5300
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SOURCE Milberg LLP