An investigation for investors in Jiayuan.com International Ltd (NASDAQ:DATE) was announced concerning the takeover of Jiayuan.com International Ltd.
Investors who purchased shares of Jiayuan.com International Ltd (NASDAQ:DATE) and currently hold any of those NASDAQ:DATE shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Jiayuan.com International Ltd breached their fiduciary duties owed to NASDAQ:DATE investors in connection with the proposed acquisition.
On December 7, 2015, Jiayuan.com International Ltd (NASDAQ:DATE) announced that it has entered into an agreement and plan of merger with LoveWorld Inc. (“Parent”) and FutureWorld Inc. (“Merger Subsidiary”), a wholly-owned subsidiary of LoveWorld Inc. Pursuant to the Merger Agreement, LoveWorld Inc will acquire Jiayuan.com International Ltd for cash consideration equal to US$5.04 per ordinary share of the Company (each, a “Share”) and US$7.56 per American depositary share of Jiayuan.com International Ltd (NASDAQ:DATE) (“ADS”), each two ADSs representing three Shares.
However, given that at least one analyst has set the high target price for NASDAQ: DATE shares at $8.00 per share and given that NASDAQ: DATE reached in the open market in May 2015 as high as $9.28 per share, the investigation concerns whether the offer is unfair to NASDAQ:DATE stockholders. More specifically, the investigation concerns whether the Jiayuan.com International Ltd Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
On January 13, 2016, NASDAQ:DATE shares closed at $7.35 per share.
Those who are current investors in Jiayuan.com International Ltd (NASDAQ:DATE) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com