NEW YORK, Nov. 5, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Telenav, Inc. ("TNAV" or the "Company") (NASDAQ: TNAV) in connection with the proposed interested-party acquisition of the Company by V99, Inc., a corporation led by TNAV's President and CEO HP Jin. Under the terms of the acquisition agreement, TNAV shareholders will receive $4.80 per share in cash for each share of TNAV that they hold.
If you own TNAV 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 TNAV's board acted in the best interest of the Company's public shareholders in agreeing to the proposed transaction, whether the per-share cash consideration reflects fair compensation for TNAV shareholders, and whether all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed to TNAV stockholders. Notably, at least one analyst has set a price target of $8.00 per TNAV share, or nearly double the per-share cash consideration.
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