Kendall Law Group, a national securities firm, is investigating Interactive Data Corporation (NYSE: IDC) for shareholders in connection with the proposed sale of the Company to investment funds managed by Silver Lake and Warburg Pincus. The firm’s investigation seeks to determine whether IDC and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an IDC shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at email@example.com.
On May 3, 2010, the companies announced that they had entered into an agreement for IDC to be acquired by Silver Lake and Warburg for $3.4 billion. According to the agreement, IDC shareholders will receive $33.86 per share, only a 3% premium over its closing price of $32.99 on Monday before the announcement. Also, the stock was trading at $34 as recently as April 21, 2010. The transaction is expected to close in the third quarter of 2010. Interactive Data subsequently postponed its annual shareholders meeting, initially scheduled for May 25, until further notice.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in dozens of merger and acquisition cases nationwide, including some of the largest transactions in the United States.