STEVENSON, Md., June 17, 2015 /PRNewswire/ -- The securities
litigation law firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
Dealertrack Technologies, Inc. ("Dealertrack" or the "Company")
(NasdaqGS: TRAK) relating to the proposed buyout of the Company by
Cox Automotive, Inc. in a transaction valued at approximately
$4 billion.
Under the terms of the transaction, Dealertrack shareholders are
anticipated to receive $63.25 in cash
for each share of Dealertrack common stock held. The firm's
investigation seeks to determine, among other things, whether the
Company's Board of Directors failed to satisfy their duties to
shareholders, including whether the Board adequately pursued
alternatives to the acquisition and whether the Board obtained the
best price possible for the Company's shares of common stock.
If you currently own common stock of Dealertrack and believe
that the proposed buyout price is too low, or you would like to
learn more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may
also request more information by contacting Brower Piven either by
email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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SOURCE Brower Piven, A Professional Corporation