A lawsuit was filed by a current investors in NASDAQ:ASIA shares in effort to stop the proposed takeover of AsiaInfo-Linkage, Inc. and other current NASDAQ:ASIA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/03/2013 -- An investor, who currently hold NASDAQ:ASIA shares, filed a lawsuit in effort to stop the proposed takeover of AsiaInfo-Linkage, Inc. by CITIC Capital Holdings Ltd for $12.00 per NASDAQ:ASIA share.
Investors who purchased shares of AsiaInfo-Linkage, Inc. (NASDAQ:ASIA) prior to May 13, 2013, and currently hold any of those NASDAQ:ASIA shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that the defendants allegedly breached their fiduciary duties owed to NASDAQ:ASIA stockholders by agreeing to sell the company too cheaply via an unfair process.
On May 13, 2013, AsiaInfo-Linkage, Inc. and CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Ltd. announced the signing of a merger agreement under which AsiaInfo-Linkage will be acquired by a private investor consortium led by CITIC Capital Partners.
Under the terms of the merger agreement, upon completion of the acquisition the stockholders of AsiaInfo-Linkage will receive US$12.00 in cash for each AsiaInfo-Linkage share of common stock they hold.
However, the plaintiff alleges that the $12.00-offer is too low and undervalues the company. In fact, NASDAQ:ASIA shares traded in 2012 as high as $13.75 and in 2011 as high as $22.65 per share and that at least one analyst has set the high target price at $16.00 per share.
The plaintiff seeks to stop the buyout under the present terms.
On May 21, 2013, NASDAQ:ASIA shares closed at $11.60 per share.
Those who are current investors in AsiaInfo-Linkage, Inc. (NASDAQ:ASIA), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego