An investigation on behalf of investors of Yodlee Inc (NASDAQ:YDLE) in connection with the proposed takeover was announced and NASDAQ:YDLE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/01/2015 -- An investigation on behalf of investors, who currently hold shares of Yodlee Inc (NASDAQ:YDLE), was announced concerning whether the takeover of Yodlee Inc by Envestnet, Inc is unfair to NASDAQ:YDLE stockholders.
On August 10, 2015, Envestnet, Inc. (NYSE:ENV) and Yodlee Inc (NASDAQ:YDLE) announced that the Boards of Directors of both companies have unanimously approved an agreement under which Envestnet will acquire all of the shares of Yodlee in a cash and stock transaction valued at$18.88 per share, or approximately $660 million on a fully-diluted equity value basis.
Investors who purchased shares of Yodlee Inc (NASDAQ:YDLE) and currently hold any of those NASDAQ:YDLE shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Yodlee Inc (NASDAQ:YDLE breached their fiduciary duties owed to (NASDAQ:YDLE investors in connection with the proposed acquisition.
However, given that at least one analyst has set the high target price for NASDAQ:YDLE shares at $19.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:YDLE stockholders. In addition, given that in connection with the agreement, funds affiliated with Warburg Pincus, which collectively own approximately 26.9 percent of Yodlee's common stock, have already entered into a voting agreement pursuant to which it has committed to support the transaction, the investigation concerns whether the Yodlee 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.
Shares of Yodlee Inc (NASDAQ:YDLE) closed on August 28, 2015, at $16.24 per share.
Those who are current investors in Yodlee Inc (NASDAQ:YDLE) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego