|[November 09, 2012]
Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of KAYAK Software Corporation (KYAK)
NEW YORK --(Business Wire)--
Faruqi & Faruqi, LLP, a leading national securities firm headquartered
in New York City, is investigating the Board of Directors of KAYAK
Software Corporation ("KAYAK" or the "Company") (NASDAQ: KYAK) for
potential breaches of fiduciary duties in connection with their conduct
related to the sale of the Company to priceline.com Incorporated
(NASDAQ: PCLN) in a cash-and-stock deal valued at approximately $1.8
billion. Under the terms of the proposed transaction, KAYAK's
stockholders have the right to receive cash or stock with a value of $40
per each KAYAK share they own (subject to (i) the collar mechanism
described below and (ii) pro ration such that the overall consideration
in the deal to KAYAK shareholders will consist of one-third cash and
two-thirds stock). The stock portion of the consideration will be
subject to a 10% collar pursuant to which the value of the priceline.com
stock delivered to those receiving stock will be $40 per KAYAK share so
long as the aggregate volume-weighted average priceline.com trading
price for the 30-day period ending 2 days prior to closing of the
transaction is between $571.31 and $698.27 per priceline.com share.
Request more information now by clicking here: www.faruqilaw.com/KYAK.
There is no cost or obligation to you.
The investigation focuses on whether KAYAK's Board of Directors breached
their fiduciary duties to the Company's stockholders by failing to
conduct an adequate and fair sales process prior to agreeing to this
proposed transaction, whether and by how much this proposed transaction
undervalues the Company to the detriment of KAYAK's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors
and individuals in class action litigation. The firm is focused on
providing exemplary legal services in complex litigation in the areas of
securities, shareholder, antitrust and consumer litigation, throughout
all phases of litigation. The firm has an experienced trial team which
has achieved significant victories on behalf of the firm's clients.
If you own common stock in KAYAK and wish to obtain additional
information and protect your investments free of charge, please visit us
or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com
or by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm
responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We are happy to discuss your particular case.
[ Back To Technology News's Homepage ]