An investigation on behalf of investors of OpenTable Inc (NASDAQ:OPEN) in connection with the proposed takeover was announced and NASDAQ:OPEN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/17/2014 -- An investigation on behalf of investors, who currently hold shares of OpenTable Inc (NASDAQ:OPEN) shares, was announced concerning whether the takeover of OpenTable Inc. by The Priceline Group Inc for $103 per shareis unfair to NASDAQ:OPEN stockholders.
Investors who purchased shares of OpenTable Inc (NASDAQ:OPEN) and currently hold any of those NASDAQ:OPEN shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of OpenTable OPEN breached their fiduciary duties owed to NASDAQ:OPEN investors in connection with the proposed acquisition.
On June 13, 2014, The Priceline Group Inc. (NASDAQ: PCLN) and OpenTable, Inc. (NASDAQ: OPEN) announced that they have entered into an agreement whereby The Priceline Group will acquire OpenTable for $103 per share in an all cash transaction valued at $2.6 billion.
However, the investigation concerns whether the offer is unfair to NASDAQ:OPEN stockholders. More specifically, the investigation concerns whether the OpenTable 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.
OpenTable Inc reported that its annual Total Revenue rose from $98.99 million in 2010 to $190.05 million in 2013 and that its Net Income increased from $14.08 million in 2012 turned to $33.38 million in 2013.
Shares of OpenTable Inc (NASDAQ:OPEN) grew from $32.39 per share in November 2011 to as high as $86.58 per share in November 2013, respectivelty $84.22 per share in April 2014.
On June 13, 2014, NASDAQ:OPEN shares closed at $104.48 per share.
Those who are current investors in OpenTable Inc (NASDAQ:OPEN) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego