NEW YORK, July 5, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Higher One Holdings, Inc. ("ONE" or the "Company") in connection with the proposed acquisition of the Company by Blackboard, Inc. ("Blackboard"). On June 30, 2016, the Company announced it had reached a definitive agreement for Blackboard to acquire all outstanding shares of ONE in a transaction valued at $260 million. Under the terms of the agreement, ONE shareholders will receive $5.15 in cash for each ONE share they own.
WeissLaw is investigating whether ONE's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $5.50, or $0.35 above the offer price.
Given these facts, WeissLaw is investigating whether ONE's Board acted in the best interests of ONE's public shareholders to maximize shareholder value prior to entering into the agreement. If you own ONE shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
SOURCE WeissLaw LLP