NEW YORK--(BUSINESS WIRE)--TheGrantLawFirm, PLLC is investigating a potential action on behalf of (“Xoom” or the “Company”) (NasdaqGS: XOOM) for possible breaches of fiduciary duty and other violations of state law by the Company’s officers and directors relating to the proposed buyout of the Company by PayPal, Inc.
On July 1, 2015, Xoom announced it had signed a definitive merger agreement with PayPal. Under the terms of the transaction, Xoom shareholders are anticipated to receive $25.00 in cash for each share of Xoom common stock held. The transaction may undervalue Xoom and may result in a substantial loss for many shareholders. For instance, Andrew Jeffrey of SunTrust Robinson Humphrey stated that Xoom's EBITDA growth rate "suggests it could be worth more" given its leading cross-border remittance franchise, strong market position and relatively early-stage penetration.
The firm’s investigation seeks to determine, among other things, whether XOOM’s Board of Directors 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.
If you are a current holder of XOOM shares, would like to discuss this investigation and/or are interested in helping the Company recover its damages, please contact, Jorge Amador at email@example.com or Lynda J. Grant at firstname.lastname@example.org. Jorge Amador is a forensics accounting expert and class action attorney. Lynda J. Grant has been representing wronged investors for over 30 years, and was recently selected as a New York Metro Superlawyer.