The Law Office of Jonathan M. Stein, P.L. is investigating the Board of Directors of Rewards Network Inc. ("Rewards Network" or the "Company") (Nasdaq: DINE) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to complete a sale of the Company to EGI Acquisition, L.L.C. ("EGI Acquisition"), an affiliate of Equity Group Investments, L.L.C. ("EGI"), a private investment firm. Under the terms of the proposed transaction, Rewards Network shareholders are to receive $13.75 in cash for each share they own, for a total transaction value of approximately $126 million.
The investigation involves whether the Board of Directors of Rewards Network breached their fiduciary duties to Rewards Network stockholders by failing to adequately shop the Company before agreeing to enter into the transaction and whether Rewards Network has disclosed all material information to shareholders about the proposed transaction. In fact, EGI Acquisition already owns approximately 14.2% of the outstanding shares of Rewards Network common stock and certain other affiliates of EGI collectively own approximately 12.1% of the outstanding shares of Rewards Network common stock and have agreed to tender such shares in the offer. Further, the Company’s stock has consistently traded above the offer price for the past few months.
If you own stock in Rewards Network and wish to obtain additional information about your rights, or if you have information regarding the above investigation, please contact Jonathan M. Stein, Esq. either via email at
or by telephone at (561) 961-2244.
The Law Office of Jonathan M. Stein, P.L. represents shareholders and consumers in complex litigation, including class action and derivative litigation. More information about the firm is available through its website,
, and upon request from the firm. Jonathan M. Stein is the attorney responsible for the content of this release.