SAN DIEGO, May 2, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of Angie's List, Inc. (NASDAQ: ANGI) breached their fiduciary duties in connection with the proposed sale of the Company to IAC/InterActive Corp (NASDAQ: IAC).
On May 1, 2017, Angie's announced it had signed a definitive merger agreement with IAC. Under the terms of the agreement, shareholders of Angie's will have the right to elect to receive either one newly issued share of Class A common stock of ANGI Homeservices Inc. or $8.50 per share in cash, for each share of Angie's stock that they own.
The investigation concerns whether Angie's 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 Angie's shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration. Shares of Angie's stock traded over $10 last year, and one analyst has a price target of $9.00 per share.
If you are a shareholder of Angie's and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP