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If you purchased shares of WebMD Health Corp. (NASDAQ:WBMD) and currently hold any of those NASDAQ:WBMD 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 case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
August 15, 2017 (Shareholders Foundation) - An investor, who currently holds shares of WebMD Health Corp. (NASDAQ:WBMD), filed a lawsuit in effort to halt the proposed takeover of WebMD Health Corp. by Internet Brands.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:WBMD stockholders by agreeing to sell WebMD Health Corp cheaply via an unfair process to Internet Brands,.
On August 07, 2017, Internet Brands, a KKR portfolio company, announced the commencement of a cash tender offer to purchase all of the issued and outstanding shares of common stock of WebMD Health Corp. (NASDAQ:WBMD) at a price of $66.50 per share, net to the seller in cash without interest and less applicable withholding taxes.
However, plaintiff claims that the proposed consideration NASDAQ:WBMD shareholders will receive is grossly inadequate and undervalues WebMD Health Corp. Indeed, at least one analyst has set the high target price for NASDAQ:WMBD shares at $72.00 per share. WebMD Health Corp. reported that its annual Total Revenue rose from $636.40 million in 2105 to $705.05 million in 2016 and that its Net Income increased from $64.02 million to $91.30 million. In addition, the plaintiff alleges that the process is also unfair NASDAQ:WBMD stockholders.