Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Online Resources Corp. (“ORCC”) (NasdaqGS: ORCC) to ACI Worldwide for shareholders. Under the terms of the proposed deal valued at approximately $133 million, ORCC shareholders will only receive $3.85 in cash for each share of ORCC stock owned. If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com. There is no cost or fee to you. The ORCC sale investigation centers on whether ORCC’s shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues ORCC’s stock, and whether ORCC’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to shareholder rights attorney Willie Briscoe, “due to the proposed sale price, the recent performance of ORCC and other factors, we believe this transaction may undervalue ORCC’s stock. Our proposed 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.
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.