Faruqi & Faruqi, LLP Announces Investigation of MediaMind Technologies, Inc.
June 20 2011 - 4:59PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of MediaMind Technologies, Inc. (“MediaMind” or the
“Company”) (NasdaqGS: MDMD) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the
Company to DG FastChannel, Inc. (NasdaqGS: DGIT) in a deal valued
at about $418.5 million. The proposed transaction offers MediaMind
shareholders $22.00 in cash for each share they own. According to
Yahoo! Finance, at least one financial analyst values the Company’s
stock at $23.00. Furthermore, on May 11, 2011, MediaMind reported
that during the first quarter of 2011, the Company’s revenue and
non-GAAP EPS exceeded analyst expectations. The revenue was up 18%
from the same quarter a year prior. The deal is structured as a
tender offer, which could avoid the need for a shareholder vote,
and is expected to be completed in the third quarter of 2011.
Request more information now by clicking here:
www.faruqilaw.com/MDMD
Whether the MediaMind’s Board of Directors breached their
fiduciary duties to MediaMind’s stockholders by failing to conduct
an adequate and fair sales process to sell the Company prior to
agreeing to this proposed transaction, whether the proposed
transaction undervalues MediaMind’s shares and by how much this
proposed transaction undervalues the Company to the detriment of
MediaMind’s shareholders are the key focus of this
investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, through all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in MediaMind and wish to obtain
additional information, please visit us at www.faruqilaw.com/MDMD
or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
SOURCE: Faruqi & Faruqi, LLP
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