SAN DIEGO, May 5, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of United Online, Inc. (NASDAQ: UNTD) breached their fiduciary duties in connection with the proposed sale of the Company to B. Riley Financial, Inc. (NASDAQ: RILY).
United Online provides consumer products and services over the Internet in the United States and internationally.
On May 4, 2016, United Online announced it had signed a definitive merger agreement with B. Riley. Under the terms of the agreement, United Online shareholders will receive $11.00 in cash for each share held.
The investigation concerns whether the United Online 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 United Online shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $19.50 price target on the stock. Additionally, United Online has no long term debt and over $100 million in cash. United Online stock has traded as high as $17.79 in the last year.
If you are a shareholder of United Online and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number where you can be reached.
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