SOURCE: Brower Piven, A Professional Corporation

October 15, 2010 14:11 ET

Brower Piven Announces Class Action Lawsuit on Behalf of Shareholders of Internet Brands, Inc. in Connection With the Proposed Acquisition of the Company by an Affiliate of Hellman & Friedman Capital Partners VI, L.P.

STEVENSON, MD--(Marketwire - October 15, 2010) -  Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the Delaware Chancery Court on behalf of all shareholders of Internet Brands, Inc. ("Internet Brands" or the "Company") (NASDAQ: INET). 

The claims asserted in the complaint arise out of the proposed transaction, announced on September 20, 2010, whereby an affiliate of the private equity firm Hellman & Friedman Capital Partners VI, L.P. (the "Buyer") will take private Internet for $13.35 in cash for each share of its Class A and Class B common stock in a transaction (the "Transaction") valued at approximately $640 million.

The complaint alleges that the Transaction and the acts of the individual defendants constitute a breach of the individual defendants' fiduciary duties owed to Internet's public stockholders and a violation of applicable legal standards governing the defendants therein. The complaint further alleges the individual defendants' acceptance of Buyer's acquisition proposal at a grossly inadequate price will constitute a breach of the individual defendants' fiduciary duties owed to Internet's stockholders to take all necessary steps to ensure that the stockholders receive the maximum value realizable for their shares of Internet stock in a transaction effecting the change of corporate control.

If you are a current owner of shares of Internet Brands, Inc. you may obtain additional information about this lawsuit by contacting Brower Piven at, by email at, by calling 410/415-6701, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    Email Contact