A law firm noted that it filed a securities class action lawsuit against a real estate company after its leaders agreed for the organization to be purchased by another firm.
Law office Brower Piven explained that the litigation was filed in the Delaware Court of Chancery against the leaders of Trulia, Inc., following its proposed merger with Zillow, Inc. This included all shareholders who acquired interests on or before the companies made the agreement on July 28, 2014.
The deal, if approved, would be worth close to $3.5 billion, though shareholders of Trulia stock would earn just 0.44 per share for each current share they own. Due to this, there may be a breach of fiduciary duty from the board of directors at Trulia. The shareholder value may not be as high as it could be, and Zillow may be paying too little in the deal.
Shareholders have an ability to become lead plaintiff in the case, and can discuss with the litigation firm the specific details about how to go about this action.
It is an option to speak with the law office to learn more about the case. The best ways to get in touch are through email or telephone, while additional details are on the law firm's website.
Second lawsuit announced
Another law office noted that it filed litigation against the company due to many reasons attached to the merger agreement.
Law firm Levi and Korsinsky, LLP, explained that the class action lawsuit was filed in the same court for those Trulia shareholders who owned stock on or before the deal was announced. While there are a number of issues with the low level of shares that stockholders would receive, other issues exist.
This includes the fact that the leaders of the company may not have acted in the best interests of shareholders. Some members of the company's board of directors, who own approximately 7.4 percent of the company's shares, will tender these interests. The company's CEO will also remain with the company when the deal is finalized.
There is also an option to discuss matters with this litigation firm. Joseph Levi is the best person to speak with regarding the case, and he can be contacted by telephone or email. Additionally, there is further information on the law office's website.