NEW YORK, May 6, 2016 /PRNewswire/ -- Milberg LLP is investigating possible breaches of fiduciary duty and other violations of law in connection with the proposed acquisition of United Online, Inc. (UNTD) ("United Online") by B. Riley Financial, Inc. and certain of its affiliates (RILY) ("B. Riley").
On May 4, 2016, United Online announced that it had entered into a definitive agreement to be acquired by B. Riley and certain of its affiliates for all of United Online's common stock for approximately $170 million in cash or $11.00 per share. However, United Online traded at a 52-week high of $17.79 per share and, according to at least one analyst, United Online has a high target of $19.50.
Milberg LLP's investigation focuses on the potential unfairness of the consideration being provided to United Online's stockholders and the process by which United Online's Board of Directors considered and approved the proposed deal.
Concerned investors are invited to contact the Milberg attorneys listed below to discuss the investigation, their rights, or potential remedies.
Founded in 1965, Milberg LLP was one of the first law firms to prosecute class actions in federal courts on behalf of investors and consumers and has been representing investors and consumers for more than four decades. Milberg LLP is widely recognized as a leader in defending the rights of victims of corporate and other large-scale wrongdoing, serving as lead counsel in federal and state courts throughout the United States. For more information, please visit the firm website at www.milberg.com.
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SOURCE Milberg LLP