April 08, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Virgin America Inc (NASDAQ:VA), was announced concerning whether the takeover of Virgin America Inc by Alaska Air Group, Inc for $57.00 per share is unfair to NASDAQ:VA stockholders.

The investigation by a law firm concerns whether certain officers and directors of Virgin America Inc (NASDAQ:VA) breached their fiduciary duties owed to NASDAQ:VA investors in connection with the proposed acquisition.

On April 4, 2016, Alaska Air Group, Inc. (NYSE: ALK), parent company of Alaska Airlines, and Virgin America Inc. (NASDAQ: VA) announced that their boards of directors have unanimously approved a definitive merger agreement, under which Alaska Air Group will acquire Virgin America for $57.00 per share in cash.

However, the investigation concerns whether the offer is unfair to NASDAQ:VA stockholders. More specifically, the investigation concerns whether the Virgin America 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.

Virgin America Inc reported that its annual Total Revenue rose from over $1.48 billion in 2014 to over $1.52 billion in 2015 and that its Net Income increased from $60.11 million in 2014 to $340.54 million in 2015.