SAN DIEGO and KIRKLAND, Wash., May 9,
2013 /PRNewswire/ -- Shareholder rights attorneys at
Robbins Arroyo LLP are investigating the acquisition of Market
Leader, Inc. (NASDAQ: LEDR) by Trulia, Inc. (NYSE: TRLA). On
May 8, 2013, Trulia announced that it
had entered into a definitive merger agreement with Market Leader
whereby Market Leader shareholders will receive $6 in cash and 0.1553 shares of Trulia's common
stock for each Market Leader share. The transaction has been
approved by the boards of directors of both companies and is
expected to close in the third quarter of 2013.
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The Board of Directors' Actions May Prevent Market Leader
Shareholders from Receiving Maximum Value for Their
Stock
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at Market Leader is undertaking a fair process to
obtain maximum value and adequately compensate its shareholders in
the merger.
On May 9, 2013, Market Leader
released its first quarter 2013 financial results reflecting a
strong overall performance. Notably, Market Leader's revenue
increased 27% to $12.9 million from
$10.2 million in the first quarter of
2012, marking the company's thirteenth consecutive quarter of
growth. In announcing, Market Leader attributed its strong
first quarter performance to its industry leading software
products, which "drove some of the most robust new sales that the
company has seen in many years." Moreover, in two years, Market
Leader increased its customer base to 135,000 agents from less than
20,000 agents.
Given these facts, the firm is examining the board of directors'
decision to sell Market Leader now rather than allow shareholders
to continue to participate in the company's continued success and
future growth prospects.
Market Leader shareholders have the option to file a class
action lawsuit to secure the best possible price for shareholders
and the disclosure of material information so shareholders can vote
on the transaction in an informed manner. Market Leader
shareholders interested in information about their rights and
potential remedies can contact Darnell R.
Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or
via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. For more information, please go to
http://www.robbinsarroyo.com.
Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/market-leader-inc/
Attorney Advertising.Past results do not guarantee a similar
outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
SOURCE Robbins Arroyo LLP