SAN DIEGO, July 25, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of Outerwall Inc. (NASDAQ: OUTR)
breached their fiduciary duties in connection with the proposed
sale of the Company to Apollo Global Management, LLC.
Additional Information:
Outerwall provides automated retail solutions. Its Redbox segment
owns and operates approximately 40,480 Redbox kiosks in 33,060
locations that enable consumers to rent or purchase movies and
video games.
On July 25, 2016, Outerwall
announced it had signed a definitive merger agreement with Apollo.
Under the terms of the agreement, Outerwall stockholders will
receive $52.00 per share in cash.
The investigation concerns whether the Outerwall board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Outerwall
shares of common stock. Nationally recognized Johnson &
Weaver is investigating whether the proposed deal price represents
adequate consideration; especially given one Wall Street
analyst has a $58.00 price target on
the stock. The 52-week high for Outerwall stock is $82.87.
If you are a shareholder of Outerwall 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.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP