NEW YORK--(BUSINESS WIRE)--WeissLaw LLP, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of KAYAK Software Corp. (NASDAQ: KYAK) arising from its agreement for KAYAK to be acquired by Priceline.com Inc. (NASDAQ: PCLN), in a cash-and-stock deal valued at approximately $1.8 billion. The proposed transaction values KAYAK at $40 a share.
WeissLaw LLP is investigating whether KAYAK’s Board is acting to maximize shareholder value for KAYAK’s public shareholders in approving this deal and whether the Board engaged in a robust sale process in shopping the company. On November 8, 2012, KAYAK reported record results, including: revenue of $78.6 million, a 29% increase from $61.2 million in the third quarter of 2011; adjusted EBITDA of $21.1 million, a 19% increase from $17.7 million in the third quarter of 2011; and net income of $8.0 million, a 14% increase from $7.0 million in the third quarter of 2011. Additionally, KAYAK’s current management team will continue to manage KAYAK’s operations as part of the Priceline group of companies. If you own KAYAK shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at email@example.com or by telephone at (888) 593-4771.
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 institutions and individuals and obtained important corporate governance in 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 issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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