Law Office of Brodsky & Smith, LLC Announces Investigation of Internet Brands, Inc.
September 20 2010 - 11:30PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Internet Brands Inc. (“Internet Brands” or the “Company”) (Nasdaq:
INET) relating to the proposed acquisition by an affiliate of
Hellman & Friedman Capital Partners VI, L.P. (“Hellman”). Under
the terms of the agreement, Internet Brands shareholders would
receive $13.35 for each share of Internet Brands stock they
own.
The investigation concerns possible breaches of fiduciary duty
and other violations of state law related to the Internet Brands
board’s approval of the proposed acquisition. Specifically,
Internet Brands shareholders need additional information to know
what actions the board took to adequately shop the Company before
entering into this transaction and whether Hellman is underpaying
for Internet Brands, resulting in harm to the Internet Brands
shareholders. The transaction appears to be unfair, in part, given
that Internet Brands stock was trading at $11.22 a share as
recently as May 17, 2010.
If you own shares of Internet Brands and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, or by calling toll free
877-LEGAL-90.
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