Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of EDGAR Online, Inc. (“EDGAR” or “EDGR”) (NASDAQ: EDGR) to R.R. Donnelley & Sons Company for shareholders. Under the proposed transaction, EDGAR shareholders will only receive $1.092 in cash for each share of EDGAR/EDGR stock owned, which is well below the 52 week high of $1.30 per share.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive merger agreement is valued at approximately $70.5 million and is expected to close during the third quarter of 2012.
According to shareholder rights attorney Willie Briscoe, “The investigation relates to the fairness of the proposed transaction to EDGAR’S shareholders and whether the Board of Directors is adequately shopping the company in order to obtain the best possible price for the shareholders. Notably, EDGAR shares were trading at $1.30 per share last year. Due to the lack of a significant premium to the shareholders and other factors, we believe that the transaction may undervalue EDGAR stock. Our lawsuit will seek to obtain the highest share price for all shareholders.”The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.