Acquisition of Market Leader, Inc. by Trulia, Inc. May Not Be in the Best
Interests of Market Leader Shareholders
SAN DIEGO and KIRKLAND, Wash., May 9, 2013
SAN DIEGO and KIRKLAND, Wash., May 9, 2013 /PRNewswire/ --Shareholder rights
attorneys at Robbins Arroyo LLP are investigating the acquisition of Market
Leader, Inc. (NASDAQ: LEDR) by Trulia, Inc. (NYSE: TRLA). On May 8, 2013,
Trulia announced that it had entered into a definitive merger agreement with
Market Leader whereby Market Leader shareholders will receive $6 in cash and
0.1553 shares of Trulia's common stock for each Market Leader share. The
transaction has been approved by the boards of directors of both companies and
is expected to close in the third quarter of 2013.
The Board of Directors' Actions May Prevent Market Leader Shareholders from
Receiving Maximum Value for Their Stock
Robbins Arroyo LLP's investigation focuses on whether the board of directors
at Market Leader is undertaking a fair process to obtain maximum value and
adequately compensate its shareholders in the merger.
On May 9, 2013, Market Leader released its first quarter 2013 financial
results reflecting a strong overall performance. Notably, Market Leader's
revenue increased 27% to $12.9 million from $10.2 million in the first quarter
of 2012, marking the company's thirteenth consecutive quarter of growth. In
announcing, Market Leader attributed its strong first quarter performance to
its industry leading software products, which "drove some of the most robust
new sales that the company has seen in many years." Moreover, in two years,
Market Leader increased its customer base to 135,000 agents from less than
Given these facts, the firm is examining the board of directors' decision to
sell Market Leader now rather than allow shareholders to continue to
participate in the company's continued success and future growth prospects.
Market Leader shareholders have the option to file a class action lawsuit to
secure the best possible price for shareholders and the disclosure of material
information so shareholders can vote on the transaction in an informed manner.
Market Leader shareholders interested in information about their rights and
potential remedies can contact Darnell R. Donahue at (800) 350-6003,
firstname.lastname@example.org, or via the shareholder information form on the
Robbins Arroyo 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.robbinsarroyo.com.
Press release link:
Attorney Advertising.Past results do not guarantee a similar outcome.
Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
SOURCE Robbins Arroyo LLP
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