SAN DIEGO, April 11, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of RetailMeNot, Inc. (NASDAQ: SALE) breached their fiduciary duties in connection with the proposed sale of the Company to Harland Clarke Holdings Corp. RetailMeNot operates as a savings destination for online and in-store purchases, connecting consumers with retailers, restaurants, and brands.
On April 10, 2017, RetailMeNot announced it had signed a definitive merger agreement with Harland Clarke. Under the agreement, Harland Clarke will acquire all of the outstanding shares of RetailMeNot common stock for only $11.60 per share in cash. Just in July 2013, RetailMeNot sold 9.1 million shares of stock at $21.00 per share in its initial public stock offering.
The investigation concerns whether the RetailMeNot board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for RetailMeNot shares of common stock; especially since the Company has over $200 million in cash.
If you are a shareholder of RetailMeNot and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP