An investigation for investors in LeapFrog Enterprises, Inc. (NYSE:LF), was announced concerning the takeover of LeapFrog Enterprises, Inc. by VTech Holdings Limited.
Investors who purchased shares of LeapFrog Enterprises, Inc. (NYSE:LF) and currently hold any of those NYSE:LF shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain directors of LeapFrog Enterprises, Inc. breached their fiduciary duties owed to NYSE:LF investors in connection with the proposed acquisition.
On February 5, 2016, VTech Holdings Limited and LeapFrog Enterprises, Inc. announced that the
two companies have entered into a merger agreement whereby VTech Holdings Limited will acquire LeapFrog Enterprises, Inc. (NYSE:LF). VTech Holdings Limited plans to acquire 100% of the outstanding common stock of LeapFrog Enterprises, Inc. (NYSE:LF) through an all cash tender offer followed by a second-step merger. In the tender offer, VTech will offer LeapFrog investors US$1.00 per share for LeapFrog’s Class A and Class B shares.
However, given that at least one analyst has set the high target price for NYSE:LF shares at $2.00 per share, the investigation concerns whether the offer is unfair to NYSE:LF stockholders. More specifically, the investigation concerns whether the LeapFrog Enterprises Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders’ best interests in connection with the proposed sale.
On March 2, 2016, NYSE:LF shares closed at $0.98 per share.
Those who are current investors in LeapFrog Enterprises, Inc. (NYSE:LF) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
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