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Robbins Umeda LLP Announces an Investigation of Motorola Mobility Holdings, Inc.

  //science-technology.news-articles.net/content/2 .. stigation-of-motorola-mobility-holdings-inc.html
  Published in Science and Technology on Monday, August 15th 2011 at 14:36 GMT by Market Wire
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SAN DIEGO--([ BUSINESS WIRE ])--Robbins Umeda LLP, a [ shareholder rights litigation ] firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Motorola Mobility Holdings, Inc. (NYSE: MMI) in connection with their efforts to sell the company to Google Inc. (NASDAQ: GOOG).

If you own stock in Motorola Mobility and would like more information about your [ shareholder rights ], please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the [ shareholder information form ] on the firm's website.

On August 15, 2011, Motorola Mobility announced that it had entered into a definitive merger agreement under which Google will acquire all outstanding shares of the company in an all cash transaction. Under the terms of the agreement, Motorola Mobility shareholders will receive $40.00 for each share of the company they own. The transaction is expected to close as soon as the end of 2011 or early 2012.

Robbins Umeda LLP's investigation focuses on whether Motorola Mobility's board is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company's recent positive financial results. On July 28, 2011, Motorola Mobility announced financial results for the second quarter of fiscal year 2011 that greatly exceeded analyst expectations. The company reported revenue of $3.34 billion, up 28% from the same period last year, and better than analyst estimates of only $3.11 billion. Additionally, Motorola Mobility reported non-GAAP earnings of $0.09 per share, compared to a $0.30 per share loss during the same period in the prior year, and above analyst estimates of $0.05 per share. Furthermore, at least one analyst has set a price target for Motorola Mobility that values the company's stock at $42.00 per share, considerably higher than the value being offered by Google as a part of the merger agreement.

Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career [ shareholder rights attorneys ]. For more information, please go to [ http://www.robbinsumeda.com ].

Press release link: [ http://www.robbinsumeda.com/shareholders-rights-blog/motorola-mobility/ ]

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