, Sept. 30, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of The Active Network, Inc. (NYSE: ACTV) on behalf of shareholders. ACTIVE announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners ("Vista"), in an all cash transaction valued at approximately
. Under the terms of the agreement Vista will commence a tender offer to acquire all of the outstanding shares of ACTIVE's common stock for
per share in cash.
The investigation concerns whether the board of directors of ACTIVE breached their fiduciary duties by not engaging in a full and fair auction of the company so that shareholders receive the maximum value for their shares while not, at the same time, seeking personal benefits for their own self interests. Indeed, the offer of
is below where the stock was trading at approx. 13 months ago and is below recent comparable transaction multiples in the industry including EBITDA, Cash Flows and Book Value.
If you are a shareholder of ACTIVE and would like additional information regarding this matter and how it affects your rights as a shareholder at no cost or expense please contact us:
Tripp Levy PLLC
New York, New York
Toll free: 1-877-772-3975 Email:
Tripp Levy PLLC is a national law firm with extensive experience in mergers and acquisitions and buyouts and has recovered millions for shareholders around the globe.
Attorney Advertising. Prior results do not guarantee a similar outcome.
SOURCE Tripp Levy PLLC