NEW YORK, July 30, 2020 /PRNewswire/ --
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of On Deck Capital, Inc. ("ONDK" or the "Company") (NASDAQ: ONDK) in connection with the proposed acquisition of the Company by Enova International, Inc. ("ENVA") (NYSE: ENVA). Under the terms of the merger agreement, ONDK shareholders will receive 0.092 ENVA shares and $0.12 in cash for each share of ONDK common stock that they own, representing implied per-share merger consideration of $1.37 based upon ENVA's July 28, 2020 opening price of $13.54.
If you own ONDK shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether ONDK's board acted to maximize shareholder value prior to entering into the acquisition agreement and whether the board was fully informed as to the valuation of the proposed acquisition of the Company. Notably, at least one analyst set a price target of $1.51 per ONDK share, or $0.15 above the implied per-share merger consideration.
Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, whether ONDK's board and management were truly acting in the best interests of the Company's stockholders, and whether all material information related to the proposed acquisition will be fully and fairly disclosed to ONDK shareholders.
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]
SOURCE WeissLaw LLP