SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Ancestry.com in Connection with the Sale of the Company
NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky is investigating the Board of Directors of Ancestry.com ("Ancestry.com" or the "Company") (NasdaqGS: ACOM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Spectrum Equity Investors V, L.P.--a company owned by the private equity firm Permira--and co-investors comprised of Ancestry.com's CEO and CFO. As part of this transaction, Ancestry.com's CEO and President, Tim Sullivan, and the Company's CFO/COO, Howard Hochhauser, will maintain a majority of their equity stakes in the Company.
Click here to learn more about the investigation: http://zlk.9nl.com/ancestry-dotcom-acom, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Ancestry.com shareholders will receive $32 for each share of Ancestry.com stock they own. The transaction has a total approximate value of $1.6 billion. The investigation concerns whether the Ancestry.com Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Hochhauser and Sullivan are taking advantage of their positions as controlling shareholders in order to purchase the Company at an unfair price. In particular, shares of Ancestry.com stock have traded above the offer price as recently as August 17, 2012 and at least one analyst has set a price target for Ancestry.com stock at $45 per share.
If you own common stock in Ancestry.com and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/ancestry-dotcom-acom.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
Toll Free: 877-363-5972
KEYWORDS: United States North America New York Pennsylvania
The article SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Ancestry.com in Connection with the Sale of the Company originally appeared on Fool.com.
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