San Diego, CA -- (SBWIRE) -- 04/09/2012 -- The announcement that DDi Corp. agreed to a merger with Viasystems Group, Inc. under which NASDAQ:DDIC shareholders will receive $13 per NASDAQ:DDIC shares they hold prompted an investigation for investors in DDi Corp. (NASDAQ:DDIC) shares concerning whether the offer to acquire DDi Corp. and the buyout process are unfair to investors in NASDAQ:DDIC shares.
Investors who purchased shares of DDi Corp. (NASDAQ:DDIC) prior to April 4, 2012 and currently hold any of those NASDAQ:DDIC shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigations by law firms concern whether certain officers and directors of DDi Corp. breached their fiduciary duties owed to DDi Corp. (NASDAQ:DDIC) investors in connection with the proposed acquisition.
On Wednesday, April 04, 2012, DDi Corp. (NASDAQ: DDIC) and Viasystems Group, Inc. (NASDAQ: VIAS) announced that they have entered into a merger agreement pursuant to which Viasystems will acquire DDi for $13.00 per share in cash, or a total transaction value of approximately $282 million, or $268 million net of DDi’s cash plus debt assumed. DDi Corp. said that the $13offer represents a 20% premium to the volume weighted average price of DDi’s common stock over the last three months.
However, The $13offer represents only a meager a 6% premium over DDi's closing stock price of $12.26 on Tuesday, April 3,2012. In addition, DDi Corp. has performed well in the past for its investors. DDi Corp’s annual Revenue increased from $190.84million in 2008 to $263.39million in 2011 and its Net Loss of $34.56million in 2008 turned into a Net income of $21.84million in 2011. Furthermore, NASDAQ:DDIC shares grew over the past recent years at an exceptional growth rate. Shares of DDi Corp. (NASDAQ:DDIC) rose from as low as $2.80 in 2009 to over $12 in March 2012.
In addition all members of DDi’s board of directors and certain members of management have already agreed to vote a number of common shares representing approximately 23% of the outstanding shares of DDi in favor of the merger.
Therefore the investigation for NASDAQ:DDIC investors concerns whether the proposed transaction is unfair to NASDAQ:DDIC stockholders.
Specifically, the investigation focuses on whether the DDi 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.
Those who are current investors in DDi Corp. (NASDAQ:DDIC) and purchased their DDi Corp. (NASDAQ:DDIC) 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