Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of LinkedIn breached their fiduciary duties in connection with the proposed sale of the Company to Microsoft.
Earlier today (June 13, 2016), LinkedIn announced it had signed a definitive merger agreement with Microsoft. Under the terms of the agreement, LinkedIn stockholders will receive $196.00 per share in cash.
The investigation concerns whether the LinkedIn board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for LinkedIn shares of common stock.
Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; especially given that the price target for one Wall Street analyst is $225.00. The 52 week high for LinkedIn stock is $258.39.
The company stated:
“If you are a shareholder of LinkedIn and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number where you can be reached”
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