DEALERTRACK SHAREHOLDER ALERT: Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Dealertrack Technolo...
June 15 2015 - 8:04AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of
Dealertrack Technologies, Inc. (NASDAQ: TRAK) breached their
fiduciary duties in connection with the proposed sale of the
Company to Cox Automotive, Inc.
Additional Information:Dealertrack provides web-based software
solutions and services to the automotive retail industry in the
United States and Canada.
On June 15, 2015, Dealertrack announced it had signed a
definitive merger agreement with Cox Automotive. Under the terms of
the agreement, Cox Automotive will acquire all outstanding shares
of Dealertrack for $63.25 per share.
The investigation concerns whether Dealertrack’s board failed to
satisfy their duties to the Company’s shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for the Company’s shares of common stock. Nationally recognized
Johnson & Weaver, which focuses its practice on shareholder
rights, is investigating whether the proposed deal price represents
adequate consideration, especially given Dealertrack’s future
growth projections.
If you are a shareholder of Dealertrack and believe the
proposed buyout price is too low or you’re interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20150615005790/en/
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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