NEW YORK, Sept. 28, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Bats Global Markets
Inc. ("BATS" or the "Company") in connection with the proposed
acquisition of the Company by CBOE Holdings Inc. ("CBOE"). On
September 26, 2016, BATS and CBOE
announced that a definitive agreement for CBOE to acquire all
outstanding shares of BATS in a cash-and-stock transaction valued
at approximately $3.2 billion.
Under the terms of the agreement, BATS shareholders will receive
0.3201 of a CBOE share and $10.00 in
cash for each BATS share, representing consideration of
$31.31 per BATS share based on CBOE's
September 26 closing price.
WeissLaw is investigating whether BATS's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, BATS shares traded for $33.00, or $1.69
above the consideration as recently as September 23, 2016. Additionally, the
Company recently announced positive financial results for the
second quarter of fiscal 2016. It reported total revenue
growth of 11%, and adjusted earnings growth of 38%
year-over-year.
Given these facts, WeissLaw is investigating the Board of
Directors' decision to sell BATS and whether BATS shareholders will
obtain their fair and proportionate share of the Company's
continued success and future growth prospects. If you own
BATS shares and would like more information about your rights or
our investigation, or if you have information to share with us,
please contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP
