Kendall Law Group, a national securities firm led by a former federal judge, is investigating MediaMind Technologies Inc. (NASDAQ: MDMD) for shareholders in connection with the proposed acquisition by DG FastChannel Inc. The firm is investigating whether MediaMind properly shopped the Company prior to entering into the agreement. This possible breach of fiduciary duty may have kept the Company from reaching a deal that would provide better value of the Company. If you are a MDMD shareholder and would like additional information about your rights, you are encouraged to contact the Kendall Law Group at 877-744-3728 or by email at email@example.com.
On June 16, 2011, the companies announced that the companies have entered into a definitive merger agreement under which MediaMind would be acquired by FastChannel in a transaction valued at approximately $415 million. Gal Trifon, President and CEO of MediaMind, will serve as FastChannel’s Chief Digital Officer. Also, Ofer Zadikario, Chief Solutions Officer of MediaMind, will join FastChannel in the same position. Under the terms of the agreement, MediaMind stockholders will receive $22.00 in cash for each share of MDMD common stock. The transaction is expected to close in the third quarter of 2011. Based on historical stock prices, the firm believes the transaction significantly undervalues the company.
Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.