An investigation on behalf of investors of Zulily Inc (NASDAQ:ZU) in connection with the proposed takeover was announced and NASDAQ:ZU stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/15/2015 -- An investigation for shareholders in NASDAQ:ZU shares was announced concerning whether the takeover of Zulily Inc. by Liberty Interactive Corporation for $18.75 per share is unfair.
Investors who purchased shares of Zulily Inc (NASDAQ:ZU) and currently hold any of those NASDAQ:ZU shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Zulily Inc breached their fiduciary duties owed to NASDAQ:ZU investors in connection with the proposed acquisition.
On August 17, 2015, Liberty Interactive Corporation and Zulily Inc (NASDAQ:ZU) announced that they have entered into an agreement under which Liberty Interactive will acquire all outstanding shares of Zulily Inc (NASDAQ:ZU) for $18.75 per share.
However, given that at least one analyst has set the high target price for NASDAQ:ZU shares at $19.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:ZU stockholders. In addition, given that concurrent with the execution of the Agreement, Zulily's founding shareholders, representing approximately 45% of zulily's outstanding shares, have already signed a Tender and Support Agreement, pursuant to which they have agreed to tender all of their shares into the exchange offer, subject to certain exceptions, the investigation concerns whether the Zulily 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.
On September 11, 2105, NASDAQ:ZU shares closed at $17.93 per share.
Those who are current investors in NASDAQ:ZU 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