Rigrodsky & Long, P.A. Investigates Buyout of MediaMind Technologies Inc.
June 16 2011 - 11:02AM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of MediaMind
Technologies Inc. (“MediaMind” or the “Company”) (Nasdaq: MDMD)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired by DG Fastchannel, Inc. (Nasdaq: DGIT) (“DG”) in a
transaction with an enterprise value of approximately $414
million.
Click here to learn more and how to join the action:
http://www.rigrodskylong.com/news/MediaMindTechnologiesInc-MDMD.
Under the proposed agreement, DG will commence a tender offer
for all of the outstanding shares of MediaMind for $22.00 per share
in cash.
The investigation concerns whether MediaMind’s board of
directors failed to adequately shop the Company and obtain the best
price possible for MediaMind’s shareholders before entering into
the agreement with DG. Indeed, according to Yahoo! Finance, at
least one analyst has set a price target of $23.00 per share for
MediaMind stock.
On May 12, 2011, MediaMind announced its first quarter 2011
financial results wherein it reported an 18% increase in revenues.
Gal Trifon, MediaMind President and CEO, commented: “Demand was
strong across all regions, highlighted by a 35% increase in our
North American market, with a 124% increase in revenues from our
data driven products and a growing contribution from our larger
advertising partners. We also strengthened our global presence
during the period with the addition of a new data center in China
and the acquisition of our fast-growing distribution partner in
Italy. Looking ahead, we see exciting growth opportunities in
social media and mobile advertising trends and have solidified our
plans to enhance our offering accordingly.”
If you own the common stock of MediaMind and purchased your
shares before June 16, 2011, if you have information or would like
to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development
Director, of Rigrodsky & Long, P.A., 919 N. Market Street,
Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or
by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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