SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Move, Inc. (NASDAQ: MOVE) breached their fiduciary duties in connection with the proposed $950 million sale of the Company to News Corp.
If you are a Move, Inc. shareholder and would like additional information concerning your legal rights, please contact Johnson & Weaver’s lead analyst Jim Baker at firstname.lastname@example.org or 619-814-4471.
Move operates an online network of websites for real estate search, finance, and moving and home enthusiasts in North America.
On September 30, 2014, Move and News Corp entered into an agreement whereby News Corp will acquire Move in a $950 million transaction. Under the terms of the agreement, Move shareholders will receive $21.00 per share in cash. The acquisition is expected to be completed by year end, although shareholders will likely be asked to vote on the transaction well before then.
Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed $21.00 per share deal price represents adequate consideration, especially given the Company’s recent success and promise of future growth. Moreover, one Wall Street analyst has a $23.00 price target on the stock which is far more than the $21.00 offer price.
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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.