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 Orbitz Worldwide, Inc. (“Orbitz” or the “Company”) (NYSE:
OWW) relating to the proposed buyout of the Company by Expedia, Inc.
(“Expedia”).
On February 12, 2015, Expedia announced the signing of a definitive
agreement pursuant to which Expedia will acquire Orbitz in a transaction
valued at approximately $1.6 billion. Under the terms of the
transaction, Orbitz shareholders are anticipated to receive $12.00 in
cash for each share of Orbitz common stock held.
The firm’s investigation seeks to determine, among other things, whether
the Company’s Board of Directors failed to satisfy their duties to
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 Orbitz 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.
Copyright Business Wire 2015