Law Office of Jonathan M. Stein, P.L. Investigates Possible Breach of Fiduciary Duty by the Board of Rewards Network Inc.
28 Octubre 2010 - 11:16AM
Business Wire
The Law Office of Jonathan M. Stein, P.L. is investigating the
Board of Directors of Rewards Network Inc. ("Rewards Network" or
the "Company") (Nasdaq: DINE) for possible breaches of fiduciary
duty and other violations of state law in connection with their
attempt to complete a sale of the Company to EGI Acquisition,
L.L.C. ("EGI Acquisition"), an affiliate of Equity Group
Investments, L.L.C. ("EGI"), a private investment firm. Under the
terms of the proposed transaction, Rewards Network shareholders are
to receive $13.75 in cash for each share they own, for a total
transaction value of approximately $126 million.
The investigation involves whether the Board of Directors of
Rewards Network breached their fiduciary duties to Rewards Network
stockholders by failing to adequately shop the Company before
agreeing to enter into the transaction and whether Rewards Network
has disclosed all material information to shareholders about the
proposed transaction. In fact, EGI Acquisition already owns
approximately 14.2% of the outstanding shares of Rewards Network
common stock and certain other affiliates of EGI collectively own
approximately 12.1% of the outstanding shares of Rewards Network
common stock and have agreed to tender such shares in the offer.
Further, the Company’s stock has consistently traded above the
offer price for the past few months.
If you own stock in Rewards Network and wish to obtain
additional information about your rights, or if you have
information regarding the above investigation, please contact
Jonathan M. Stein, Esq. either via email at
jstein@jonathansteinlaw.com or by telephone at (561) 961-2244.
The Law Office of Jonathan M. Stein, P.L. represents
shareholders and consumers in complex litigation, including class
action and derivative litigation. More information about the firm
is available through its website, www.jonathansteinlaw.com, and
upon request from the firm. Jonathan M. Stein is the attorney
responsible for the content of this release.
Jonathan M. Stein, Esq. Law Office of Jonathan M. Stein, P.L. 120
E. Palmetto Park Rd., Suite 420 Boca Raton, FL 33432 (561) 961-2244
jstein@jonathansteinlaw.com
www.jonathansteinlaw.com
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