Law Office of Brodsky & Smith, LLC Announces Investigation of Ancestry.com, Inc.
BALA CYNWYD, Pa., Oct. 22, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Ancestry.com, Inc. ("Ancestry" or the "Company") (Nasdaq: ACOM) relating to the proposed acquisition by Permira Funds ("Permira").
Under the terms of the transaction, Ancestry shareholders will receive only $32.00 in cash for each share of Ancestry stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Ancestry for not acting in the Company's shareholders' best interests in connection with the sale process to Permira. The transaction may undervalue the Company and result in a substantial loss for many Ancestry shareholders. For example Ancestry stock traded at $44.70 on July 19, 2011 and an analyst has set a price target for Ancestry stock at $45.00 per share.
If you own shares of Ancestry stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/490-acom-ancestrycom-inc.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC