mail@shareholdersfoundation.com
Marvel Entertainment, Inc faces a lawsuit on behalf of current investors Marvel Entertainment, Inc. (Public, NYSE:MVL), who purchased the shares before August 31, 2009, over alleged breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover.
If you are currently an investor in shares of Marvel Entertainment, Inc. (Public, NYSE:MVL), and purchased the shares before August 31, 2009, you have certain options and you should contact the Shareholders Foundation, Inc. at:
Email: mail@shareholdersfoundation.com
Or call us at: +1 (858) 779 - 1554
According to the complaint the plaintiff alleges breaches of fiduciary duty and other violations of state law by the Board of Directors of Marvel Entertainment, Inc. (Public, NYSE:MVL) arising out of their attempt to sell Marvel Entertainment to Walt Disney Company. According to Marvel Entertainment the Walt Disney Company (NYSE:DIS) has agreed to acquire Marvel Entertainment, Inc. (NYSE:MVL) in a stock and cash transaction. Under the terms of the agreement and based on the closing price of Walt Disney Company (NYSE:DIS) on August 28, 2009, Marvel shareholders (NYSE:MVL) would receive a total of $30 per share (NYSE:MVL) in cash plus approximately 0.745 Disney shares for each Marvel share they own. According to Marvel Entertainment based on the closing price of Disney stock (NYSE:DIS) on Friday, August 28, the transaction value is $50 per MVL share or approximately $4 billion.
But according to a previous investigation by a law firm “the transaction appear[ed] to be unfair” to current investors of Marvel Entertainment, Inc. (Public, NYSE:MVL) “by failing to conduct an open and fair auction process for the Company in order to maximize shareholder value”. Marvel Entertainment, Inc., located in New York, is a character-based entertainment company, with a library of over 5,000 characters. The Company’s library of characters includes Spider-Man, Iron Man, The Incredible Hulk, Captain America, Thor, The Avengers, Ghost Rider, The Fantastic Four, X-Men (including Wolverine), Blade, Daredevil, The Punisher, Namor the Sub-Mariner, Nick Fury, Silver Surfer and Ant-Man. Marvel Entertainment, Inc. reported in 2007 Total Revenue of $485.81million with a Net Income of $139.82million and in 2008 Total Revenue of $484.66million with a Net Income of $205.53million. Marvel shares NYSE:MVL traded after the announcement at $49.05 per share, and the day before announcement at $38.76 per share.
Those who are currently investors in shares of Marvel Entertainment, Inc. (Public, NYSE:MVL), and purchased the shares before August 31, 2009, have certain options and you should contact the Shareholders Foundation, Inc. at:
Email: mail@shareholdersfoundation.com
Or call us at: +1 (858) 779 - 1554
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-
Fax:+1-(858)-
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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