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andymays
11-17-2009, 03:45 PM
Youbet.com, Inc. board under investigation

http://www.prlog.org/10415998-youbetcom-inc-board-under-investigation.html

Excerpt:

Investigation on behalf of certain current investors in Youbet.com, Inc. (Public, NASDAQ:UBET) over possible breaches of fiduciary duty by the Youbet.com board of directors – Contact the Shareholders Foundation, Inc.


FOR IMMEDIATE RELEASE

PRLog (Press Release) – Nov 17, 2009 – An investigation on behalf of current in Youbet.com, Inc. (Public, NASDAQ:UBET), who purchased the shares before November 11, 2009, over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price was announced.

If you are currently an investor in shares of Youbet.com, Inc. (Public, NASDAQ:UBET), and purchased the shares before November 11, 2009, and / or have additional information relating to the investigation, you should contact the Shareholders Foundation, Inc. at:



http://www.prlog.org/10415998-youbetcom-inc-board-under-investigation.html

CBedo
11-17-2009, 04:48 PM
I know absolutely nothing about this specific case, but before everyone assumes the management did something wrong, this is a standard suit filed by these types of law firms all the time. They look for stock prices that were higher recently than the proposed buyout price and then try to put together a case that shows that somehow management must have misled the public before to hold up the stock price. They try to get a class action lawsuit enjoined and then pray for a settlement.

These types of firms are the ambulance chasers of the equity market world.

bigmack
11-17-2009, 05:00 PM
“the transaction appears to be unfair” to current investors of Youbet.com, Inc. (NASDAQ:UBET) because the “offer to purchase Youbet.com, Inc. (UBET) appears opportunistically timed to take advantage of the current economic downturn”
:lol:

rrbauer
11-17-2009, 05:52 PM
Smoke and mirrors....woulda, coulda, shoulda. They didn't "shop Ubet around"? The stock price was "higher in June"? Ubet shareholders should take the money and run.

Every small, undercapitalized company doing business as an ADW is going to become a smaller, more undercapitalized company doing business as an ADW on the way to becoming defunct.

HUSKER55
11-17-2009, 10:52 PM
isn't it buy low and sell high or is it make a good deal and get screwd by lawyers