The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of OpenTable, Inc. Buyout Proposal
SMITHTOWN, NY, June 13, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of OpenTable, Inc. (“OpenTable”) (NASDAQ GS: OPEN) for possible breaches of fiduciary duties and other violations of law in connection with OpenTable’s agreement to be acquired by The Priceline Group, Inc. (“Priceline”) (NASDAQ GS: PCLN), in a transaction valued at approximately $2.6 billion.
Under the terms of the agreement, public shareholders of OpenTable would receive $103.00 in cash for each share of OpenTable they own.
The investigation concerns whether OpenTable’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to OpenTable’s stockholders would be fair and adequate, and whether OpenTable is acting in its stockholders’ best interests.