NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of zulily, Inc. (“zulily” or the “Company”) (NasdaqGS:ZU) for potential breaches of fiduciary duties in connection with the sale of the Company to Liberty Interactive for approximately $2.4 billion in a cash and stock transaction.
The Company’s stockholders will only receive $9.375 in cash and 0.3098 newly issued shares of Liberty Interactive for each Company share they own. This is approximately $18.38 per share based on Liberty Interactive’s opening price on August 20, 2015. However, the offer represents an inadequate premium over the Company’s opening price per share of $18.25 on August 20, 2015, and it is even below the median analyst price target of $18.75 per share.
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The investigation focuses on whether zulily’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of zulily’s shareholders.
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If you own common stock in zulily and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ZU or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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