OpenTable Inc (OPEN) Investor Lawsuit to Halt Takeover Announced by
SAN DIEGO, June 30, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc.
announces that an investor, who currently holds OpenTable Inc (OPEN) shares,
filed a lawsuit in effort to halt the proposed takeover of OpenTable Inc by
The Priceline Group Inc for $ 103 per share.
Investors, who purchased shares of OpenTable Inc (OPEN) prior to June 13, 2014
and currently hold any of those shares, have certain options and should
contact the Shareholders Foundation, Inc. at firstname.lastname@example.org
or call +1 (858) 779-1554.
On June 13, 2014, The Priceline Group Inc. (PCLN) and OpenTable, Inc.(OPEN)
announced that they have entered into an agreement wherebyThe Priceline
Groupwill acquire OpenTable for$103per share in an all cash transaction
valued at$2.6 billion.
However, the plaintiff claims that the offer is too low and undervalues
OpenTable, Inc. Indeed, shares of OpenTable rose following the takeover
announcement in the open market to as high as $106.30 per share on June 23,
2014. In addition, the plaintiff claims that the process is unfair to
OpenTable, Inc stockholders. Indeed, On June 12, 2014, certain officers and
directors of OpenTable, Inc who own approximately 7% of the outstanding shares
of common stock of the Company have already agreed to support the proposed
On June 27, 2014, shares of OpenTable, Inc. closed at $104.01 per share.
Those who currently are investors in OpenTable, Inc shares and purchased any
of those OpenTable, Inc shares prior to 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.
CONTACT: Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
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