An investigation on behalf of investors of MINDBODY, Inc. (NASDAQ: MB) in connection with the proposed takeover was announced and NASDAQ: MB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/09/2019 -- An investigation was announced for investors, who currently hold shares of MINDBODY, Inc. (NASDAQ: MB), concerning whether the takeover of MINDBODY, Inc. is unfair to NASDAQ: MB stockholders.
Investors who purchased shares of MINDBODY, Inc. (NASDAQ: MB) and currently hold any of those NASDAQ: MB shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain directors of MINDBODY, Inc. breached their fiduciary duties owed to NASDAQ: MB investors in connection with the proposed acquisition.
San Luis Obispo, CA based MINDBODY, Inc. operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. On December 24, 2018, MINDBODY, Inc. (NASDAQ: MB) announced that it has entered into an agreement to be acquired by Vista Equity Partners. Under the terms of the agreement, Vista Equity Partners will acquire all outstanding shares of MINDBODY common stock for a total value of approximately $1.9 billion. MINDBODY shareholders will receive $36.50 in cash per share.
However, given that at least one analyst has set the high target price for NASDAQ: MB shares at $45.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: MB stockholders. More specifically, the investigation concerns whether the MINDBODY Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
MINDBODY, Inc. reported that its annual Total Revenue rose from $139.02 million in 2016 to $182.62 million in 2017 and that its Net Loss declined from $22.97 million in 2016 to $14.79 million in 2017.
Shares of MINDBODY, Inc. (NASDAQ: MB) reached as high as $43.90 per share on September 25, 2018.
On January 8, 2019, NASDAQ: MB shares closed at $36.50 per share.
Those who are current investors in MINDBODY, Inc. (NASDAQ: MB) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
For more information on this press release visit:
Media Relations Contact
Email: Click to Email Michael Daniels