A lawsuit was filed for investors in shares of WebMD Health Corp. (NASDAQ:WBMD) in connection with the proposed takeover and NASDAQ:WBMD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/16/2017 -- The Shareholders Foundation announces that an investor, who currently holds shares of WebMD Health Corp. (NASDAQ:WBMD), filed a lawsuit against the takeover of WebMD Health Corp. by Internet Brands.
Investors who purchased shares of WebMD Health Corp. (NASDAQ:WBMD) and currently hold any of those NASDAQ:WBMD 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 NASDAQ:WBMD stockholders by agreeing to sell WebMD Health Corp cheaply via an unfair process to Internet Brands,.
On August 07, 2017, Internet Brands, a KKR portfolio company, announced the commencement of a cash tender offer to purchase all of the issued and outstanding shares of common stock of WebMD Health Corp. (NASDAQ:WBMD) at a price of $66.50 per share, net to the seller in cash without interest and less applicable withholding taxes.
However, plaintiff claims that the proposed consideration NASDAQ:WBMD shareholders will receive is grossly inadequate and undervalues WebMD Health Corp. Indeed, at least one analyst has set the high target price for NASDAQ:WMBD shares at $72.00 per share. WebMD Health Corp. reported that its annual Total Revenue rose from $636.40 million in 2105 to $705.05 million in 2016 and that its Net Income increased from $64.02 million to $91.30 million. In addition, the plaintiff alleges that the process is also unfair NASDAQ:WBMD stockholders.
On August 15, 2017, NASDAQ:WBMD shares closed at $66.33 per share.
Those who are current investors in WebMD Health Corp. shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego