SAN DIEGO, Dec. 20, 2019 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP has launched an investigation
into whether the board members of Care.com, Inc. (NYSE:
CRCM) ("Care") breached their
fiduciary duties in connection with the proposed sale of the
Company to IAC/InterActiveCorp ("IAC").
On December 20, 2019, Care
announced that it had signed a definitive merger agreement with
IAC. Under the terms of the merger agreement, IAC will acquire all
outstanding shares of Care common stock for $15.00 per share in cash. In addition, the holder
of Care series A convertible preferred stock will be able to tender
its shares in exchange for a cash payment equal to 150% of its
liquidation preference, plus accrued and unpaid dividends.
The investigation concerns whether the Care board failed to
satisfy its 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 Care shares
of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration. The 52-week high
for Care was $25.81.
If you are a shareholder of Care 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@johnsonfistel.com) at
619-814-4471. If emailing, please include a
phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, 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
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP