NEW YORK, July 28, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Outerwall Inc.
("OUTR" or the "Company") in connection with the proposed
acquisition of the Company by affiliates of Apollo Global
Management, LLC (the "Apollo Affiliates"). On July 25, 2016, the Company announced that it had
reached a definitive agreement for the Apollo Affiliates to acquire
all outstanding shares of OUTR. Under the terms of the
agreement, OUTR shareholders will receive $52.00 in cash for each OUTR share they
own.
WeissLaw is investigating whether OUTR's Board acted to maximize
shareholder value prior to entering into the
agreement. Notably, prior to the announcement at least one
analyst set a target price of $58.00
per share, or $6.00 above the offer
price.
Given these facts, WeissLaw is investigating whether OUTR's
Board acted in the best interests of OUTR's public shareholders to
maximize shareholder value prior to entering into the agreement. If
you own OUTR shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua Rubin
by telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal
advice concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP