Press release from Business Wire
Ryan & Maniskas, LLP Announces Investigation of Kayak Software Corporation
Tuesday, November 13, 2012
WAYNE, Pa. (Business Wire) -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/kyak) is investigating potential claims against the board of directors of Kayak Software Corporation (“Kayak” or the “Company”) (NASDAQ: KYAK) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to priceline.com Incorporated in a cash-and-stock deal valued at approximately $1.8 billion.
Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Kayak. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com or visit: www.rmclasslaw.com/cases/kyak
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.
If you own shares of Kayak and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/kyak. You may also email Mr. Maniskas at firstname.lastname@example.org. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire