NEW YORK, June 12, 2020 / PRNewswire / – WeissLaw LLP is investigating possible fiduciary and other breaches of the law by the board of directors of Grubhub, Inc. (“GRUB” or the “Company”) (NYSE: GRUB) in as part of the proposed acquisition of the Company by Just Eat Takeaway.com NV (AMS: TKWY, LSE: JET) (“Just Eat Takeaway”). Under the terms of the acquisition agreement, GRUB shareholders will receive US depository shares (“ADS”) representing 0.671 common shares of Just Eat Takeaway, for each GRUB share they own. The consideration for the merger represented an implied value per share of approximately $ 62.29 based on Just Eat Takeaway June 11, 2020 closing price of $ 92.83.1
If you own GRUB shares and would like to discuss this investigation or have questions regarding this notice or your rights or interests, visit our website:
Joshua Rubin, Esq.
1500 Broadway, 16e Ground
New York, NY 10036
WeissLaw examines whether the GRUB Board of Directors has acted to maximize shareholder value before entering into the acquisition agreement. In particular, GRUB recently announced positive financial results, including first quarter 2020 sales of $ 363 million compared to $ 323.8 million reported in the same period of 2019, which represents a year-over-year increase of 12%.
In addition, at closing, GRUB shareholders will hold ADS representing only 30% of the company resulting from the combination.
In light of these facts, WeissLaw questions whether the proposed acquisition undervalues the company and whether all material information relating to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has pleaded hundreds of class actions and derivative actions for breaches of corporate and fiduciary duties. We have recovered over $ 1 billion for defrauded customers and obtained significant corporate governance relief in many of these cases. If you have information or want legal advice regarding possible corporate wrongdoing (including insider trading, waste of business assets, accounting fraud or misleading information), fraud consumers (including misleading advertising, defective products or other deceptive marketing practices), or anti-trust breaches, please email us at [email protected]
1 Converted to USD from EUR at the exchange rate of 1.1288 at the close of June 11, 2020.
SOURCE WeissLaw LLP