An investigation on behalf of investors of Trulia Inc (NYSE:TRLA) in connection with the proposed takeover was announced and NYSE:TRLA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/05/2014 -- An investigation on behalf of investors, who currently hold shares of Trulia Inc (NYSE:TRLA), was announced concerning whether the takeover of Trulia Inc by Zillow, Inc is unfair to NYSE:TRLA stockholders.
Investors who purchased shares of Trulia Inc (NYSE:TRLA) and currently hold any of those (NYSE:TRLA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Trulia Inc breached their fiduciary duties owed to NYSE:TRLA investors in connection with the proposed acquisition.
On July 28, 2014, Zillow, Inc. (NASDAQ:Z) announced that it has entered into an agreement to acquire Trulia, Inc. (NYSE:TRLA) for $3.5 billion in a stock-for-stock transaction. As part of the agreement, Trulia shareholders will receive 0.444 shares of Class A Common Stock of Zillow, Inc.5 for each share of Trulia. Based on a closing price of $158.86 per Zillow share on Friday, July 25, 2014, Trulia shareholders will receive a value of approximately $70.54 per NYSE:TRLA shares they own.
However, given that certain Trulia directors holding 7.4% of Trulia stock have already entered into voting agreements with Zillow to vote in favor of the transaction, the investigation concerns whether the offer is unfair to NYSE:TRLA stockholders. More specifically, the investigation concerns whether the Trulia 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.
Trulia Inc reported that its annual Total Revenue rose from $19.79 million in 2010 to $143.73 million in 2013. Shares of Trulia Inc (NYSE:TRLA) grew from $15.15 per share in November 2012 to as high as $55.68 per share on July 25, 2014.
On August 1, 2014, NYSE:TRLA shares closed at $60.53 per share.
Those who are current investors in Trulia Inc (NYSE:TRLA) 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