Robbins Umeda LLP Announces an Investigation of DigitalGlobe, Inc.
May 07 2012 - 8:23PM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of the law by members of the board of directors of
DigitalGlobe, Inc. (NYSE: DGI) relating to the proposed acquisition
by GeoEye, Inc. (NASDAQ: GEOY). Concerned shareholders who would
like more information about their rights and potential remedies can
contact attorney Gregory E. Del Gaizo at (800) 350-6003,
info@robbinsumeda.com, or via the shareholder information form on
the firm's website.
Robbins Umeda LLP is investigating whether DigitalGlobe's board
is acting in the best interest of shareholders. On May 4, 2012,
GeoEye announced a proposal to acquire all outstanding shares of
DigitalGlobe for $17.00 per share, payable $8.50 per share in cash
and 0.3537 shares of GeoEye stock.
On May 6, 2012, DigitalGlobe's board issued a press release
announcing that it had rejected GeoEye's acquisition proposal. As
DigitalGlobe's board continues to weigh strategic alternatives, the
firm is examining whether officers and directors at the company are
working to maximize value for DigitalGlobe shareholders or to
preserve their own leadership positions at the company.
Robbins Umeda LLP notes that a potentially appropriate course of
conduct for DigitalGlobe shareholders is to file a class action
against the company's board to attempt to ensure that it negotiates
with GeoEye and other potential suitors in good faith and in a
manner that maximizes shareholder value.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/digitalglobe-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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