An investigation on behalf of investors of Reis, Inc. (NASDAQ: REIS) in connection with the proposed takeover was announced and NASDAQ: REIS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/05/2018 -- The takeover of Reis, Inc. is under investigation concerning whether the acquisition is unfair to NASDAQ: REIS stockholders.
Investors who purchased shares of Reis, Inc. (NASDAQ: REIS) and currently hold any of those NASDAQ: REIS 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 Reis, Inc. breached their fiduciary duties owed to NASDAQ: REIS investors in connection with the proposed acquisition.
On August 30, 2018, Moody's Corporation (NYSE:MCO) and Reis, Inc. (NASDAQ:REIS) announced that they have entered into a merger agreement for Moody's to acquire all outstanding shares of Reis in an all-cash transaction valued at approximately $278 million. Under the terms of the merger agreement, Moody's will commence a tender offer to acquire all issued and outstanding shares of Reis common stock for $23.00 per share in cash.
However, given that Moody's has already also entered into tender and support agreements with certain Reis management stockholders under which they have committed to accept the tender offer and to tender all of their Reis shares, which represent approximately 18% of Reis's issued and outstanding shares, the investigation concerns whether the offer is unfair to Reis, Inc. (NASDAQ: REIS stockholders. More specifically, the investigation concerns whether the Reis, Inc. (NASDAQ: REIS 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.
Shares of Reis, Inc. (NASDAQ: REIS) reached as high as $24.00 per share in July 2018.
On September 4, 2018, NASDAQ:REIS shares closed at $23.10 per share.
Those who are current investors in Reis, Inc. (NASDAQ: REIS) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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.
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