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If you purchased shares of Millennial Media, Inc. (NYSE:MM) and currently hold any of those NYSE:MM shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
September 4, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Millennial Media, Inc. (NYSE:MM), was announced concerning whether the takeover of Millennial Media, Inc. by AOL for $1.75 per share is unfair to NYSE:MM stockholders.
The investigation by a law firm concerns whether certain officers and directors of Millennial Media, Inc. breached their fiduciary duties owed to NYSE:MM investors in connection with the proposed acquisition.
On September 3, 2015, AOL announced the signing of an agreement to acquire Millennial Media, Inc. (NYSE: MM) for $1.75 per share of Millennial Media common stock.
However, given that at least one analyst has set the high target price at $2.15 per share, the investigation concerns whether the offer is unfair to NYSE:MM stockholders. More specifically, the investigation concerns whether the Millennial Media 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.
Millennial Media, Inc. reported that its annual Total Revenue rose from $103.68 million in 2011 to $296.16 million in 2014.
