Energy News / Shareholders Foundation, Inc.

NASDAQ:WEB Investor Alert: Lawsuit Filed in Effort to Halt Takeover of Group, Inc

Via: ReleaseWire

Updated 11:30 AM CDT, Tue, September 18,2018

A lawsuit was filed for investors in shares of Group, Inc. (NASDAQ: WEB) in connection with the proposed takeover.

San Diego, CA -- (SBWIRE) -- 09/18/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Group, Inc. (NASDAQ: WEB), filed a lawsuit against the acquisition of Group, Inc.

Investors who purchased shares of Group, Inc. (NASDAQ: WEB) and currently hold any of those NASDAQ: WEB shares have certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: WEB stockholders by agreeing to sell Group, Inc cheaply via an unfair process. Group, Inc. provides a range of Internet services to small businesses in North America, South America, and the United Kingdom. On June 21, 2018, Group, Inc. (NASDAQ:WEB) announced that it has entered into an agreement to be acquired by an affiliate of Siris Capital Group, LLC in an all-cash transaction valued at approximately $2 billion.

Under the terms of the agreement, an affiliate of Siris will acquire all of the outstanding common stock of for $25.00 per share in cash.

However, plaintiff claims that the proposed consideration NASDAQ: WEB shareholders will receive is grossly inadequate and undervalues Group, Inc. Indeed, at least one analyst has set the high target price for NASDAQ: WEB shares at $32.00 per share. Group, Inc. reported that its annual Total Revenue rose from $710.5 million in 2016 to $749.26 million in 2017 and that its Net Income increased from $3.99 million in 2016 to $53.62 million in 2017. In addition, the plaintiff alleges that the process is also unfair NASDAQ: WEB stockholders.

Those who are current investors in Group, Inc. (NASDAQ: WEB) shares have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

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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Media Relations Contact
Michael Daniels
Email: Click to Email Michael Daniels