November 09, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of HomeAway, Inc. (NASDAQ:AWAY), was announced concerning whether the takeover of HomeAway, Inc. by Expedia, Inc for a value of approximately $38.31 per share is unfair to NASDAQ:AWAY stockholders.

The investigation by a law firm concerns whether certain officers and directors of HomeAway, Inc breached their fiduciary duties owed to NASDAQ:AWAY investors in connection with the proposed acquisition.

On November 4, 2015 Expedia, Inc and HomeAway, Inc. (NASDAQ:AWAY) announced today that they have entered into an agreement under which Expedia has agreed to acquire HomeAway, Inc. (NASDAQ:AWAY), including all of its brands, for an equity value of approximately $3.9 billion in cash and Expedia common stock, representing a per share price for HomeAway shares of $38.31, based on Expedia's closing price on November 3, 2015. Under the terms of the transaction, Expedia will offer to acquire each outstanding share of common stock of HomeAway, Inc. (NASDAQ:AWAY) in exchange for $10.15 in cash and 0.2065 of a share of Expedia common stock.

However, given that at least one analyst has set the high target price for NASDAQ:AWAY shares at $43.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:AWAY stockholders. More specifically, the investigation concerns whether the HomeAway Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

HomeAway, Inc. reported that its annual Total Revenue rose from $230.22 million in 2011 to $446.76 million in 2014. Shares of HomeAway, Inc. (NASDAQ:AWAY) reached as high as $47.74 per share in February 2014.