An investigation on behalf of investors in NASDAQ:EDGR shares in connection with the takeover of EDGAR Online, Inc. was announced and NASDAQ:EDGR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/30/2012 -- An investigation for investors in NASDAQ:EDGR shares concerning whether the offer by R. R. Donnelley & Sons Company to acquire EDGAR Online, Inc. at $1.092 per share and the buyout process are unfair to investors in NASDAQ:EDGR was announced.
Investors who purchased shares of EDGAR Online, Inc. (NASDAQ:EDGR) prior to May 22, 2012 and currently hold any of those NASDAQ:EDGR 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 EDGAR Online, Inc. breached their fiduciary duties owed to NASDAQ:EDGR investors in connection with the proposed acquisition.
On Tuesday, May 22, 2012, R. R. Donnelley & Sons Company and EDGAR Online jointly announced that they have signed an agreement pursuant to which RR Donnelley will acquire EDGAR Online. Under the terms of the proposed transaction, EDGAR Online shareholders will receive $1.092 for each share of EDGAR Online common stock held.
However, NASDAQ:EDGR shares traded in 2011 as high as$1.12 in July, as high as $1.39 in April, and as high as $1.52 in February.
Therefore the investigation for NASDAQ:EDGR investors concerns whether the proposed transaction is unfair to EDGAR Online, Inc. (NASDAQ:EDGR) stockholders.
Specifically, the investigation focuses on whether the EDGAR Online 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 EDGAR Online, Inc. (NASDAQ:EDGR) and purchased their NASDAQ:EDGR 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