A lawsuit was filed by investor in shares of XRS Corp (NASDAQ:XRSC) in effort to stop the proposed takeover and NASDAQ:XRSC stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 10/01/2014 --The Shareholders Foundation announces that an investor, who currently holds shares of XRS Corp (NASDAQ:XRSC), filed a lawsuit in effort to halt the proposed takeover of XRS by Omnitracs, LLC for $5.60 per share.

Investors who purchased shares of XRS Corp (NASDAQ:XRSC) and currently hold any of those NASDAQ:XRSC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:XRSC stockholders by agreeing to sell XRS Corp. too cheaply via an unfair process to Omnitracs, LLC.

On September 2, 2014, Omnitracs, LLC announced that it has agreed to acquire XRS Corp (NASDAQ:XRSC). Subject to the terms and conditions of the agreement, Omnitracs will pay $5.60 per share of XRS Corp, which equates to $178 million in equity value.

However, the plaintiff claims that the $5.60-offer is too low and undervalues XRS Corp. Indeed, XRS Corp’s performance improved. In fact, XRS Corp reported that Total Revenue declined from $63.09 million for the 12 months period that ended on Sept. 30, 2012 to $56.20 million for the 12 months period that ended on Sept. 30, 2013, while its Net Loss of $10.04 million for the 12 months period that ended on Sept. 30, 2012 turned into a Net Income of $0.87 million for the 12 months period that ended on Sept. 30, 2013. Shares of XRS Corp (NASDAQ:XRSC) grew from $0.50 per share in November 2012 to as high as $3.23 per share on August 28, 2014. In addition, the plaintiff claims that the process is also unfair to NASDAQ:XRSC stockholders.

On September 29, 2014, NASDAQ:XRSC shares closed at $5.55 per share.

Those who are current investors in XRS Corp (NASDAQ:XRSC) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com