Morgan & Morgan Announces the Investigation of the Proposed Sale of Xoom Corporation - XOOM

Jul 02, 2015, 12:15 ET from Morgan & Morgan

NEW YORK, July 2, 2015 /PRNewswire/ -- Morgan & Morgan announces that it is investigating potential claims against the board of directors of Xoom Corporation ("Xoom" or the "Company") (NasdaqGS: XOOM) for potential breaches of fiduciary duties in connection with the sale of the Company to PayPal, Inc. ("PayPal") for approximately $890 million.

If you purchased Xoom stock, and want more information about the Xoom takeover investigation, please contact Morgan & Morgan at 1(800) 732-5200 or email info@morgansecuritieslaw.com.

On July 1, 2015, Xoom announced it had signed a definitive merger agreement with PayPal. Under the terms of the transaction, Xoom stockholders will only receive $25.00 in cash for each share of Xoom common stock they own. One analyst has set a price target of $32.00 per share of Xoom stock.

Morgan & Morgan's investigation concerns whether the board of directors of the Company breached its fiduciary duties to act in the best interests of Xoom's shareholders.

About Morgan & Morgan Morgan & Morgan is one of the nation's largest 200 law firms.  In addition to shareholder rights, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability.  All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."

Attorney advertising. Prior results do not guarantee a similar outcome.

Contact: Morgan & Morgan Peter Safirstein, Esq. 28 West 44th Street Suite 2001 New York, NY  10036 1-800-732-5200 info@morgansecuritieslaw.com

 

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