A lawsuit was filed for investors in shares of Everyday Health Inc (NYSE:EVDY) in connection with the proposed takeover and NYSE:EVDY stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 11/21/2016 --The Shareholders Foundation announced that an investor who currently holds NYSE:EVDY shares filed a lawsuit against the takeover of Everyday Health Inc. by Davis, LLC, which comprises the Digital Media Division of j2 Global, Inc.

Investors who purchased shares of Everyday Health Inc (NYSE:EVDY) and currently hold any of those NYSE:EVDY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:EVDY stockholders by agreeing to sell Everyday Health Inc too cheaply via an unfair process to Ziff Davis, LLC, which comprises the Digital Media Division of j2 Global, Inc. (NASDAQGS:JCOM)

On October 21, 2016, Everyday Health Inc announced that it has entered into a merger agreement with Ziff Davis, LLC. Under the terms of the agreement, Ziff Davis will acquire Everyday Health Inc (NYSE:EVDY) for $10.50 per share in cash, representing an approximate enterprise value of $465 million.

However, plaintiff claims that the proposed consideration NYSE:EVDY shareholders will receive is grossly inadequate and undervalues Everyday Health Inc. Indeed, at least one analyst has set the high target price for NYSE:EVDY shares at $17.00 per share and shares of Everyday Health Inc (NYSE:EVDY) reached as high as $18.94 per share in July 2014. In addition, the plaintiff alleges that the process is also unfair to NYSE:EVDY stockholders.

On November 18, 2016, NYSE:EVDY shares closed at $10.50 per share.

Those who are current investors in Everyday Health Inc shares have certain options and should contact the Shareholders Foundation.