Buyout Of Autonavi – Law Firm Seeks Higher Price For Shareholders
Tripp Levy PLLC, a leading national securities law firm announces that it is investigating the acquisition of AutoNavi Holdings Ltd. in connection with the buyout of the company by Alibaba Group. Pursuant to the merger agreement, AutoNavi shareholders will only receive US$5.25 in cash per ordinary share of US$21 in cash per ADS. Alibaba currently owns over 28% of AutoNavi’s shares.
The investigation concerns whether Alibaba as a significant shareholder and the board of directors of the company are breaching their fiduciary duties to shareholders by not engaging in a full and fair process to sell the company so that shareholders receive the maximum value for their shares, whether there is a conflict of interest and whether the price of $21 is unfairly low.
Tripp Levy PLLC and its affiliates represent institutional and individual shareholders and have recovered billions of dollars for shareholders around the globe. Attorney advertising