Rigrodsky & Long, P.A. Announces Investigation Of Market Leader, Inc. Buyout
WILMINGTON, Del. -- May 22, 2013
Rigrodsky & Long, P.A.:
*Do you own shares of Market Leader, Inc. (NASDAQ GS: LEDR)?
*Did you purchase any of your shares prior to May 8, 2013?
*Do you think the proposed buyout price is too low?
*Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal
claims against the board of directors of Market Leader, Inc. (“Market Leader”
or the “Company”) (NASDAQ GS: LEDR) regarding possible breaches of fiduciary
duties and other violations of law related to the Company’s entry into an
agreement to be acquired by Trulia, Inc. (“Trulia”) (NYSE: TRLA) in a
transaction valued at approximately $355 million.
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Under the terms of the proposal, public shareholders of Market Leader will
receive $6.00 in cash and 0.1553 shares of Trulia for each share of Market
Leader they own. Based upon Trulia’s closing stock price of $31.13 on May 21,
2013, Market Leader shareholders would have received consideration valued at
approximately $10.83 per share.
The investigation concerns whether Market Leader’s board of directors failed
to adequately shop the Company and obtain the best possible value for Market
Leader’s shareholders before entering into an agreement with Trulia. According
to Yahoo! Finance, at least one analyst set a target price for Market Leader
stock at $11.00.
If you own the common stock of Market Leader and purchased your shares before
May 8, 2013, if you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to these
matters, please contact Olga Pettigrew or Peter Allocco at Rigrodsky & Long,
P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by
telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at:
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City,
New York, regularly prosecutes securities class, derivative and direct
actions, shareholder rights litigation and corporate governance litigation, on
behalf of shareholders in states and federal courts throughout the United
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Fax: (302) 654-7530
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