An investigation on behalf of investors of Digital River, Inc. (NASDAQ:DRIV) in connection with the proposed takeover was announced and NASDAQ:DRIV stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/28/2014 -- An investigation on behalf of investors, who currently hold shares of Digital River, Inc. (NASDAQ:DRIV), was announced concerning whether the takeover of Digital River, Inc. at $26 per share is unfair to NASDAQ:DRIV stockholders.
Investors who purchased shares of Digital River, Inc. (NASDAQ:DRIV) and currently hold any of those NASDAQ:DRIV shares have certain options and should contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Digital River, Inc. breached their fiduciary duties owed to NASDAQ:DRIV investors in connection with the proposed acquisition.
On October 23, 2014, Digital River, Inc. (NASDAQ:DRIV) announced that it has entered into a merger agreement to be acquired by an investor group led by Siris Capital Group, LLC (collectively “Siris”) in a transaction valued at approximately $840 million. Under the terms of the proposed transaction, Siris will acquire all of the outstanding common shares of Digital River, Inc. (NASDAQ:DRIV) for $26.00 per share in cash.
However, the investigation concerns whether the offer is unfair to NASDAQ:DRIV stockholders. More specifically, the investigation concerns whether the Digital River Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Digital River, Inc. reported that its annual Total Revenue rose from $370.50 million in 2012 to $389.68 million in 2013 and that its respective Net Loss declined from $195.87 million to $24.65 million. Shares of Digital River, Inc. (NASDAQ:DRIV) traded during 2011 as high as $37.37 per share.
On October 23, 2014, NASDAQ:DRIV shares closed at $17.38 per share.
Those who are current investors in Digital River, Inc. (NASDAQ:DRIV) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com