DigitalGlobe Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Sale of DigitalGlobe, Inc. to GeoEye, Inc.
May 04 2012 - 9:08AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of DigitalGlobe, Inc.
(“DigitalGlobe” or “DGI”) (NYSE: DGI) to GeoEye, Inc. for
shareholders. Under the proposed merger, DigitalGlobe shareholders
will receive only $17.00 in total consideration for each share of
DigitalGlobe owned, including $8.50 in cash and $8.50 in GeoEye
stock, or 0.3537 shares of GeoEye stock, which is well below
DigitalGlobe’s 52-week high of $27.42 per share.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive acquisition agreement involves a cash and stock
transaction with a total equity value of approximately $792
million.
The investigation centers on whether DigitalGlobe shareholders
are receiving adequate compensation for their shares in the buyout,
whether the transaction undervalues DigitalGlobe’s stock, and
whether DigitalGlobe’s board attempted to obtain the highest share
price for all shareholders prior to agreeing to the deal. According
to Yahoo! Finance, at least one analyst has stated that the true
inherent value of DigitalGlobe shares may be as high as $36.00 per
share. According to shareholder rights attorney Willie Briscoe,
“Based on the relatively low premium price and other factors, we
are investigating whether the transaction undervalues DigitalGlobe
stock. Our lawsuit will seek to obtain the highest share price for
all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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