The Briscoe Law Firm Announces Investigation Of MediaMind Technologies Inc.
Former state prosecutor and enforcement attorney for the United States
Securities and Exchange Commission, Willie Briscoe, founder of
Briscoe Law Firm, PLLC, and the securities litigation law firm of
Former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation law firm of Powers Taylor, LLP have announced that the firms are investigating the Board of Directors of MediaMind Technologies Inc. (“MediaMind” or “MDMD”) (NASDAQ: MDMD) for potential breaches of fiduciary duty and other legal claims related to the acquisition of MediaMind by DG FastChannel, Inc. The definitive merger agreement involves an all-cash transaction valued at approximately $418.5 million. Under the proposed buyout, MediaMind shareholders will receive only $22.00 in cash for each share of MediaMind/MDMD common stock they hold. The transaction is expected to closed in the third quarter of 2011. The firms are investigating the fairness of the proposed transaction to MediaMind shareholders, whether the shareholders are being underpaid for their stock, and whether MediaMind’s Board of Directors acted in the shareholders’ best interests. In particular, although the acquisition price represents a premium over MediaMind’s closing price the day before the announcement, as recently as May 31, 2011 MediaMind’s shares closed at nearly $17.50 per share. Further, at least one analyst has set a target price of $23.00 per share for MediaMind Stock. In addition, on May 11, 2011, MediaMind reported first quarter financial results that exceeded analysts’ expectations. Based on these and other factors, the firms do not believe that the acquisition price is fair to MediaMind shareholders. If you currently own shares of MediaMind/MDMD and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you. The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.