Kayak Software Corp (KYAK) Investor Lawsuit to Stop Takeover by
Priceline.com Incorporated Announced by Shareholders Foundation
SAN DIEGO, CA -- (Marketwire) -- 11/19/12 -- The Shareholders
Foundation, Inc. announces that an investor in Kayak Software Corp
(KYAK) shares filed a lawsuit to stop the proposed buyout of Kayak
Software Corp by Priceline.com Incorporated at a value of
approximately $40 per KYAK.
Investors who purchased shares of Kayak Software Corp (KYAK) prior to
November 08, 2012 and currently hold any of those KYAK shares, have
certain options and should contact the Shareholders Foundation, Inc.
at email@example.com or call +1 (858) 779-1554.
On November 8, 2012, Priceline.com Incorporated announced that it has
signed an agreement for the Priceline to acquire Kayak Software Corp
in a stock and cash transaction. Under the terms of the agreement the
transaction values Kayak Software Corp at approximately $40 per
However, the plaintiff alleges that the defendants breached their
fiduciary duties owed to KYAK stockholder by agreeing to sell the
company too cheaply and via an unfair process. The plaintiff claims
that the offer is unfair to KYAK stockholders and undervalues the
Indeed, Kayak Software' financial performance improved in recent
years. For instance, Kayak Software Corp reported that its annual
Revenue rose from $112.02 million in 2008 to $224.53 million in 2011
and its Net Income increased from $5.10 million in 2008 to $9.70
million in 2011. In addition its third quarter revenue and third
quarter Net Income both from 2011 to 2012.
Those who currently are investors in Kayak Software Corp (KYAK)
shares and purchased their shares before the announcement have
certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal
monitoring and settlement claim filing service, which does research
related to shareholder issues and informs investors of securities
class actions, settlements, judgments, and other legal related news
to the stock/financial market. The Shareholders Foundation, Inc. is
not a law firm. The information is provided as a public service. It
is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
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