Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
whether members of the board of directors of Orbitz Worldwide, Inc.
(NYSE: OWW) breached their fiduciary duties in connection with the
planned merger of the Company with Expedia, Inc. Orbitz operates as an
online travel company worldwide.
On February 12, 2015, Orbitz and Expedia announced that they had entered
into a definitive merger agreement. Under the terms of the agreement
Orbitz shareholders will receive $12.00 per share in cash for each
Orbitz common share held. The proposed transaction is subject to
regulatory approval.
The investigation concerns whether the Orbitz board failed to satisfy
their duties to the Company 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 are a shareholder of Orbitz and believe that the proposed
buyout price is too low and you are interested in learning more about
the investigation or your legal rights and remedies, please contact lead
analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California, New York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more information
about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
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Copyright Business Wire 2015