NEW YORK, June 14, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of LinkedIn Corporation ("LNKD" or the "Company") in connection with the proposed acquisition of the Company by Microsoft Corporation ("Microsoft"). On June 13, 2016, LNKD announced a definitive agreement for Microsoft to acquire all outstanding shares of LNKD in a transaction valued at approximately $26.2 billion, inclusive of debt. Under the terms of the agreement, LNKD shareholders will receive $196.00 in cash for each LNKD share they own.
WeissLaw is investigating whether LNKD's Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $225 per share, or $29 above the offer price. The offer price is also nearly $63 lower than LNKD's 52-week high of $258.39. Additionally, the Company recently announced positive financial results for the first quarter of 2016. It reported total revenues of $861 million, representing an increase of 35% year-over-year.
Given these facts, WeissLaw is investigating whether LNKD's Board acted in the best interests of LNKD's public shareholders to maximize shareholder value prior to entering into the agreement. If you own LNKD 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 firstname.lastname@example.org.
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@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP