An investigation on behalf of investors of Active Network Inc (NYSE:ACTV) in connection with the proposed takeover was announced and NYSE:ACTV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/02/2013 -- An investigation on behalf of investors, who currently hold shares of Active Network Inc (NYSE:ACTV) shares, was announced concerning whether the takeover of Active Network Inc by Vista Equity Partnersis unfair to NYSE:ACTV stockholders.
Investors who purchased shares of the Active Network Inc (NYSE:ACTV) and currently hold any of those NYSE:ACTV shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Active Network Inc breached their fiduciary duties owed to NYSE:ACTV investors in connection with the proposed acquisition.
On Sept. 30, 2013, ACTIVE Network (NYSE: ACTV) announced that it has entered into an agreement to be acquired by Vista Equity Partners in an all cash transaction valued at approximately $1.05 billion. Under the terms of the agreement Vista Equity Partners will commence a tender offer to acquire all of the outstanding shares of Active Network’s common stock for $14.50 per share in cash.
However, the investigation concerns whether the offer is unfair to NYSE:ACTV stockholders. More specifically, the investigation concerns whether the Active Network 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.
Active Network Inc reported that its annual Total Revenue rose from $242.88 million in 2009 to $418.89 million in 2012.
Shares of Active Network Inc (NYSE:ACTV) closed on Oct. 1, 2013, at $14.37 per share.
Those who are current investors in Active Network Inc (NYSE:ACTV) and purchased their Active Network shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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