An investigation on behalf of investors of Everyday Health Inc (NYSE:EVDY) in connection with the proposed takeover was announced and NYSE:EVDY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/24/2016 -- The acquisition of Everyday Health Inc is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold NYSE:EVDY shares, concerning whether the takeover of Everyday Health Inc. by Davis, LLC, which comprises the Digital Media Division of j2 Global, Inc. for $10.50 per share is unfair.
Investors who purchased shares of Everyday Health Inc (NYSE:EVDY) and currently hold any of those NYSE:EVDY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Everyday Health Inc breached their fiduciary duties owed to NYSE:EVDY investors in connection with the proposed acquisition.
On October 21, 2016, Everyday Health Inc announced that it has entered into a merger agreement with Ziff Davis, LLC, which comprises the Digital Media Division of j2 Global, Inc. (NASDAQGS: JCOM). Under the terms of the agreement, Ziff Davis will acquire Everyday Health Inc (NYSE:EVDY) for $10.50 per share in cash, representing an approximate enterprise value of $465 million.
However, given that at least one analyst has set the high target price for NYSE:EVDY shares at $17.00 per share, the investigation concerns whether the offer is unfair to NYSE:EVDY stockholders. More specifically, the investigation concerns whether the Everyday Health Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On October 21, 2016, NYSE:EVDY shares closed at $10.45 per share.
Those who are current investors in Everyday Health Inc shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com