Robbins Umeda LLP Announces an Investigation of Kayak Software Corporation.

 Robbins Umeda LLP Announces an Investigation of Kayak Software Corporation.

PR Newswire

SAN DIEGO, Nov. 9, 2012

SAN DIEGO, Nov. 9, 2012 /PRNewswire/ -- Shareholder rights firm Robbins Umeda
LLP has commenced an investigation into possible breaches of fiduciary duty
and other violations of the law by members of the board of directors of Kayak
Software Corporation (NASDAQGS: KYAK) in connection with their efforts to sell
the company to priceline.com Inc. (NASDAQ: PCLN). Concerned shareholders who
would like more information about their rights and potential remedies can
contact attorney Gregory E. Del Gaizo at (800) 350-6003,
info@robbinsumeda.com, or via the shareholder information form on the firm's
website.

(Logo: http://photos.prnewswire.com/prnh/20111014/ROBBINSUMEDALOGO)

On November 8, 2012, Kayak and Priceline announced that they had entered into
a definitive merger agreement under which Kayak will acquire Priceline.
According to the terms of the deal, Priceline will acquire Kayak through a
cash-and-stock transaction with a total value of $1.8 billion consisting of
$500 million in cash and $1.3 billion in stock. Kayak shareholders will have
the right to elect to receive cash or stock with a value of $40 per Kayak
share. The acquisition has already been approved by the board of directors of
both companies. The transaction is expected to close late in the first
quarter of 2013.

Robbins Umeda LLP's investigation focuses on whether the board of directors at
Kayak is undertaking a fair process to obtain maximum value and adequately
compensate its shareholders, or seeking to benefit themselves. Notably,
following the completion of the merger, Kayak's current management team will
continue to manage Kayak's operations independently as part of the Priceline
Group of companies. Further, on November 8, 2012, Kayak reported its third
quarter 2012 earnings results with net income for the quarter of $8.0 million,
a 14% increase from $7.0 million in the same quarter in 2011. Revenue for the
quarter was $78.6 million, a 29% increase from $61.2 million in the third
quarter of 2011. Given these financial results, Robbins Umeda LLP is
examining the board of directors' decision to sell Kayak now rather than allow
shareholders to continue to participate in the company's continued success and
future growth prospects.

Robbins Umeda LLP attorneys highlight that Kayak shareholders have the option
to file a class action lawsuit against the company to secure the best possible
price for the company's shareholders and the disclosure of material
information to shareholders so they can vote on the transaction in an informed
manner.

Robbins Umeda LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please go
to http://www.robbinsumeda.com. 

Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/kayak-software-corp/

Attorney Advertising.Past results do not guarantee a similar outcome.

Contact:
Robbins Umeda LLP
Gregory E. Del Gaizo
info@robbinsumeda.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsumeda.com

SOURCE Robbins Umeda LLP

Website: http://robbinsumeda.com
 
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