A lawsuit was filed by an investor in shares of Orbitz Worldwide, Inc. (NYSE:OWW) in effort to stop the proposed takeover and NYSE:OWW stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/09/2015 -- An investor, who currently holds shares of Orbitz Worldwide, Inc. (NYSE:OWW), filed a lawsuit in effort to stop the proposed takeover of Orbitz Worldwide, Inc. by Expedia, Inc.
Investors who purchased shares of Orbitz Worldwide, Inc. (NYSE:OWW) and currently hold any of those NYSE:OWW shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:OWW stockholders by agreeing to sell Orbitz Worldwide, Inc too cheaply via an unfair process to Expedia, Inc.
On February 12, 2015, Expedia, Inc. (Nasdaq:EXPE) announced it has entered into an agreement under which it will acquire Orbitz Worldwide, Inc. (NYSE:OWW), including all of Orbitz Worldwide'sbrands, for $12.00 per share in cash, representing an enterprise value of approximately $1.6 billion.
However, the plaintiff claims that the proposed consideration NYSE:OWW shareholders will receive is grossly inadequate and undervalues Orbitz Worldwide, Inc. Indeed, the performance of Orbitz Worldwide, Inc improved in recent years. For instance, Orbitz Worldwide, Inc. reported that its annual Total Revenue rose from $778.80 million in 2012 to $847.00 million in 2013 and that its Net Loss of $301.74 million in 2012 turned into a Net Income of $165.09 million in 2013. In addition, the plaintiff alleges that the process is unfair to NYSE:OWW stockholders
On March 5, 2015, NYSE:OWW shares closed at $11.67 per share.
Those who are current investors in Orbitz Worldwide, Inc. (NYSE:OWW) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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