A lawsuit was filed for investors in shares of AOL, Inc. (NYSE:AOL) in effort to halt the proposed takeover and NYSE:AOL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/09/2015 -- An investor who currently holds shares of AOL, Inc. (NYSE:AOL) filed a lawsuit in effort to halt the proposed takeover of AOL, Inc. by Verizon Communications Inc for $50.00 per share.
On May 12, 2015, Verizon Communications Inc. (NYSE, Nasdaq: VZ) announced the signing of an agreement to purchase AOL Inc. (NYSE: AOL) for $50 per share at an estimated total value of approximately $4.4 billion.
Investors who purchased shares of AOL, Inc. (NYSE:AOL) and currently hold any of those NYSE:AOL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:AOL stockholders arising out of the attempt to sell AOL, Inc. too cheaply via an unfair and self-serving process to Verizon Communications Inc. The plaintiff alleges that the $50-offer is too low and undervalues AOL Inc. Indeed, at least one analyst has set the high target price for NYSE:AOL shares at $67.00 per share. Furthermore,
AOL, Inc. reported that its annual Total Revenue rose from over $2.31 billion in 2013 to over $2.52 billion in 2014 and that its respective Net Income increased from $92.40 million to $125.60 million. Shares of AOL, Inc. (NYSE:AOL) grew from $36.36 per share in June 2014 to as high as $49.62 per share in January 2015. In addition, the plaintiff claims that the process is also unfair to NYSE:AOL stockholders
On June 5, 2015, NYSE:AOL shares closed at $50.09 per share.
Those who are current investors in AOL, Inc. (NYSE:AOL) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego