Lundy Law Commences An Investigation Into The Proposed Acquisition Of Xoom Corporation
Lundy Law is investigating potential claims against the Board of Directors of Xoom Corporation (“Xoom” or the “Company”) (NASDAQ: XOOM) for possible breaches of fiduciary duty and other violations of law in connection with the proposed sale of the Company to PayPal, Inc. in a transaction valued at approximately $890 million. Under the terms of the proposed transaction, Xoom shareholders will receive $25.00 in cash for each share of Xoom common stock they own.
Among other things, the investigation concerns whether the proposed transaction undervalues the Company and whether the Board of Directors of Xoom is achieving the best possible value for the Company’s shareholders. Notably, Xoom common stock has traded as high as approximately $29.00 per share as recently as 2014, and one analyst has set a price target of $32.00 per share.
If you own shares of Xoom 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/XOOM.
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