Acquisition Of Market Leader, Inc. By Trulia, Inc. May Not Be In The Best Interests Of Market Leader Shareholders
SAN DIEGO and KIRKLAND, Wash., May 9, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the acquisition of Market Leader, Inc. (NASDAQ: LEDR) by Trulia, Inc. (NYSE: TRLA). On May 8, 2013, Trulia announced that it had entered into a definitive merger agreement with Market Leader whereby Market Leader shareholders will receive $6 in cash and 0.1553 shares of Trulia's common stock for each Market Leader share. The transaction has been approved by the boards of directors of both companies and is expected to close in the third quarter of 2013.
The Board of Directors' Actions May Prevent Market Leader Shareholders from Receiving Maximum Value for Their Stock
Robbins Arroyo LLP's investigation focuses on whether the board of directors at Market Leader is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in the merger.On May 9, 2013, Market Leader released its first quarter 2013 financial results reflecting a strong overall performance. Notably, Market Leader's revenue increased 27% to $12.9 million from $10.2 million in the first quarter of 2012, marking the company's thirteenth consecutive quarter of growth. In announcing, Market Leader attributed its strong first quarter performance to its industry leading software products, which "drove some of the most robust new sales that the company has seen in many years." Moreover, in two years, Market Leader increased its customer base to 135,000 agents from less than 20,000 agents. Given these facts, the firm is examining the board of directors' decision to sell Market Leader now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV