NEW YORK, July 28, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Outerwall Inc. ("OUTR" or the "Company") in connection with the proposed acquisition of the Company by affiliates of Apollo Global Management, LLC (the "Apollo Affiliates"). On July 25, 2016, the Company announced that it had reached a definitive agreement for the Apollo Affiliates to acquire all outstanding shares of OUTR. Under the terms of the agreement, OUTR shareholders will receive $52.00 in cash for each OUTR share they own.
WeissLaw is investigating whether OUTR's Board acted to maximize shareholder value prior to entering into the agreement. Notably, prior to the announcement at least one analyst set a target price of $58.00 per share, or $6.00 above the offer price.
Given these facts, WeissLaw is investigating whether OUTR's Board acted in the best interests of OUTR's public shareholders to maximize shareholder value prior to entering into the agreement. If you own OUTR 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