The Law Office Of Abe Shainberg Launches An Investigation Into The Possible Breaches Of Fiduciary Duty By The Board Of Rewards Network Inc. In Connection With The Sale Of The Company To Equity Group Investments – DINE
The Law Office of Abe Shainberg 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 attempt to sell the Company to EQI Acquisition, L.L.C. (“EQI Acquisition”), an affiliate of Equity Group Investments, L.L.C. (“EQI”). Under the terms of the transaction, Rewards Network shareholders will receive $13.75 in cash for each share of Rewards Network common stock they own for a total transaction value of approximately $126 million. EGI Acquisition currently owns approximately 14.2% of the outstanding shares and certain other affiliates of EGI collectively own approximately 12.1% of the outstanding shares and have agreed to tender such shares in the offer.
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 before entering into this transaction and whether EQI Acquisition is underpaying for Rewards Network shares, thus unlawfully harming Rewards Network stockholders. Rewards Network stock has traded as high as $14.46 per share as recently as October 26, 2010.
If you own common stock in Rewards Network and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at email@example.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/rewards-network-dine.html.
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV