Jun 16, 2015, 08:00 ET
NEW YORK, June 16, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of iDreamSky Technology Limited ("iDreamSky" or the "Company") (NASDAQ: DSKY) concerning the proposed acquisition of the Company by its Chairman, Michael Xiangyu Chen ("Chen").
Under the terms of his offer, Chen would acquire iDreamSky for $14 cash per American depositary share. The offer values the Company at approximately $488 million. As recently as January 2015, the Company's American depositary shares closed at $15.31 each.
Our investigation concerns whether the iDreamSky board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own iDreamSky shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Email: [email protected]
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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