SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Digital River, Inc. (NASDAQ: DRIV) breached their fiduciary duties in connection with the proposed merger of the Company with Siris Capital Group, LLC.
Digital River provides end-to-end cloud-commerce, payments, and marketing solutions.
On October 23, 2014, Digital River announced it had signed a definitive agreement to be acquired by Siris. Under the terms of the agreement, Siris will acquire all of the outstanding common shares of Digital River for $26.00 per share in cash, a transaction valued at approximately $840 million.
The investigation concerns whether Digital River’s board failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. The Company has over $300 million in cash.
If you are a shareholder of Digital River and believe the proposed buyout price is too low and you are interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
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.