BALA CYNWYD, Pa.,
July 6, 2016 /PRNewswire/ -- Law
office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
ReachLocal, Inc. ("ReachLocal" or "the Company") (Nasdaq-
RLOC-News) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to Gannett Co., Inc. ("Gannett").
Click here to learn more about the investigation
http://brodsky-smith.com/1098-rloc-reachlocal-inc.html, or call:
877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, ReachLocal shareholders will
receive only $4.60 in cash for each
share of ReachLocal stock they own. The investigation concerns
whether the Board of ReachLocal breached their fiduciary duties to
shareholders and whether Gannett is underpaying for the Company.
The transaction may undervalue the Company and would result in a
substantial loss for many long-term ReachLocal shareholders. For
example, ReachLocal stock has traded over $7.00 per share. In addition, with 16,000
customers in North America,
Latin America, Europe, and Asia/Pacific, the transaction will expand
Gannett's digital revenue by $320
million.
If you own shares of ReachLocal stock and wish to discuss the
legal ramifications of the investigation, or have any questions,
you may e-mail or call the law office of Brodsky & Smith, LLC
who will, without obligation or cost to you, attempt to answer your
questions. You may contact Jason L.
Brodsky, Esquire or Evan J. Smith,
Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
510, Bala Cynwyd, PA 19004, by visiting
http://brodsky-smith.com/1098-rloc-reachlocal-inc.html, or calling
toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and class action lawsuits. The attorneys at Brodsky
& Smith have been appointed by numerous courts throughout the
country to serve as lead counsel in class actions and have
successfully recovered millions of dollars for our clients and
shareholders. Attorney advertising. Prior results do not guarantee
a similar outcome.
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SOURCE Brodsky & Smith, LLC