An investigation on behalf of investors, who currently hold shares of MINDBODY, Inc. (NASDAQ: MB), was announced concerning whether the takeover of MINDBODY, Inc. is unfair to NASDAQ: MB stockholders.

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

San Luis Obispo, CA based MINDBODY, Inc. operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. On December 24, 2018, MINDBODY, Inc. (NASDAQ: MB) announced that it has entered into an agreement to be acquired by Vista Equity Partners. Under the terms of the agreement, Vista Equity Partners will acquire all outstanding shares of MINDBODY common stock for a total value of approximately $1.9 billion. MINDBODY shareholders will receive $36.50 in cash per share.

However, given that at least one analyst has set the high target price for NASDAQ:MB shares at $45.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: MB stockholders. More specifically, the investigation concerns whether the MINDBODY 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.

MINDBODY, Inc. reported that its annual Total Revenue rose from $139.02 million in 2016 to $182.62 million in 2017 and that its Net Loss declined from $22.97 million in 2016 to $14.79 million in 2017.

Shares of MINDBODY, Inc. (NASDAQ: MB) reached as high as $43.90 per share on September 25, 2018.