SOURCE: Shareholders Foundation
SAN DIEGO, CA--(Marketwire - Nov 19, 2012) - The Shareholders Foundation, Inc. announces that an investor in Kayak Software Corp (KYAK) shares filed a lawsuit to stop the proposed buyout of Kayak Software Corp by Priceline.com Incorporated at a value of approximately $40 per KYAK.
Investors who purchased shares of Kayak Software Corp (KYAK) prior to November 08, 2012 and currently hold any of those KYAK shares, have certain options and should contact the Shareholders Foundation, Inc. at firstname.lastname@example.org or call +1 (858) 779-1554.
On November 8, 2012, Priceline.com Incorporated announced that it has signed an agreement for the Priceline to acquire Kayak Software Corp in a stock and cash transaction. Under the terms of the agreement the transaction values Kayak Software Corp at approximately $40 per share.
However, the plaintiff alleges that the defendants breached their fiduciary duties owed to KYAK stockholder by agreeing to sell the company too cheaply and via an unfair process. The plaintiff claims that the offer is unfair to KYAK stockholders and undervalues the company.
Indeed, Kayak Software' financial performance improved in recent years. For instance, Kayak Software Corp reported that its annual Revenue rose from $112.02 million in 2008 to $224.53 million in 2011 and its Net Income increased from $5.10 million in 2008 to $9.70 million in 2011. In addition its third quarter revenue and third quarter Net Income both from 2011 to 2012.
Those who currently are investors in Kayak Software Corp (KYAK) shares and purchased their shares before the announcement have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.