WeissLaw LLP, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Online Resources Corp. (“Online Resources” or the “Company”) (NASDAQ: ORCC) arising from its agreement for Online Resources to be acquired by ACI Worldwide Inc. (“ACI Worldwide”) in an all-cash transaction valued at approximately $263 million, which includes the redemption of Online Resources preferred stock. Under the terms of the proposed transaction ACI Worldwide will buy all outstanding Online Resources’ stock for $3.85 per share. WeissLaw LLP is investigating whether Online Resources’ Board acted in the best interests of its public shareholders by actively shopping the Company to maximize shareholder value for Online Resources’ public shareholders, prior to entering into the proposed transaction with ACI Worldwide. If you own Online Resources shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Kelly C. Keenan either by telephone at (888) 593-4771 or by email at firstname.lastname@example.org. WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.
Shares of Online Resources Corporation (Nasdaq:ORCC) were gapping down Wednesday morning with an open price 30.4% lower than Tuesday's closing price. The stock closed at $6.05 yesterday and opened today's trading at $4.21.