STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Digital River, Inc. (“Digital River” or the “Company”)
(Nasdaq: DRIV) relating to the proposed buyout of the Company by Siris
Capital Group, LLC (“Siris”).
On October 23, 2014, Digital River announced the signing of a definitive
agreement pursuant to which Siris will acquire Digital River in a
transaction valued at approximately $840 million.
Under the terms of the transaction, Digital River shareholders are
anticipated to receive $26.00 in cash for each share of Digital River
common stock they own. The transaction is expected to close in the first
quarter of 2015, though Digital River shareholders will most likely be
asked to vote on the transaction well before that time.
The firm’s investigation seeks to determine, among other things, whether
Digital River’s Board of Directors failed to satisfy their duties to the
Company’s shareholders, including whether the board adequately pursued
alternatives to the acquisition and whether the board obtained the best
price possible for the Company’s shares of common stock.
If you currently own common stock of Digital River and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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