Levi & Korsinsky is investigating the Board of Directors of Rewards Network Inc. (“Rewards Network” or the “Company”) (NasdaqCM: DINE) for possible breaches of fiduciary duty and other violations of state law in connection with their receipt of a non-binding proposal from Equity Group Investments, L.L.C. (“EGI”) for a going private transaction. Under the terms of the proposal, Rewards Network shareholders will receive $13.50 in cash per share which values the Company at approximately $119 million. EGI already beneficially owns approximately 26.4% of the Company’s outstanding common stock.
The investigation concerns whether the Rewards Network Board of Directors breached their fiduciary duties to Rewards Network stockholders by failing to adequately shop the Company and whether the Board is taking the necessary steps to maximize shareholder value. Rewards Network stock has been trading above the offer price reaching $14.86 per share as recently as April 29, 2010.
If you own common stock in Rewards Network and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500 or visit http://www.zlk.com/rewards-network-dine.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.