Lundy Law Commences An Investigation Into The Proposed Acquisition Of AOL Inc.
Lundy Law is investigating potential claims against the Board of Directors of AOL Inc. (“AOL” or the “Company”) (NYSE: AOL) for possible breaches of fiduciary duty and other violations of law in connection with the proposed sale of the Company to Verizon Communications Inc. (“Verizon”) in a transaction valued at approximately $4.4 billion. Under the terms of the proposed transaction, AOL shareholders will receive $50.00 in cash for each share of AOL common stock they own.
Among other things, the investigation concerns whether the proposed transaction undervalues the Company, and whether the Board of Directors of AOL failed to adequately shop the Company and obtain the best possible value for the Company’s shareholders prior to entering into an agreement with Verizon. One analyst has recently set a price target for AOL stock at $67.00 per share, far above the merger consideration of $50.00 per share. Moreover, AOL shares have traded above the $50.00 merger consideration in the last year and a half, reaching a high of $53.28 per share on January 16, 2014.
If you own shares of AOL common stock and wish to discuss the legal ramifications of the investigation, or have any questions, contact Lundy Law who will, without obligation or cost to you, answer your questions. For more information you may contact David Promisloff, co-counsel to Lundy Law directly at 1-800-LundyLaw, or visit https://www.lundylaw.com/press-releases/AOL.
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