Trulia Inc (NYSE:TRLA) Investor Investigation Over Potential Breaches Of Fidicuary Duties In Acquisition

If you purchased shares of Trulia Inc (NYSE:TRLA) and currently hold any of those NYSE:TRLA shares, you have certain options and you should contact the Shareholders Foundation Inc

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Trulia
Affected Securities: 
NYSE: TRLA

August 4, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Trulia Inc (NYSE:TRLA), was announced concerning whether the takeover of Trulia Inc by Zillow, Inc is unfair to NYSE:TRLA stockholders.

The investigation by a law firm concerns whether certain officers and directors of Trulia Inc breached their fiduciary duties owed to NYSE:TRLA investors in connection with the proposed acquisition.

On July 28, 2014, Zillow, Inc. (NASDAQ:Z) announced that it has entered into an agreement to acquire Trulia, Inc. (NYSE:TRLA) for $3.5 billion in a stock-for-stock transaction. As part of the agreement, Trulia shareholders will receive 0.444 shares of Class A Common Stock of Zillow, Inc.5 for each share of Trulia. Based on a closing price of $158.86 per Zillow share on Friday, July 25, 2014, Trulia shareholders will receive a value of approximately $70.54 per NYSE:TRLA shares they own.

However, given that certain Trulia directors holding 7.4% of Trulia stock have already entered into voting agreements with Zillow to vote in favor of the transaction, the investigation concerns whether the offer is unfair to NYSE:TRLA stockholders. More specifically, the investigation concerns whether the Trulia Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Trulia Inc reported that its annual Total Revenue rose from $19.79 million in 2010 to $143.73 million in 2013. Shares of Trulia Inc (NYSE:TRLA) grew from $15.15 per share in November 2012 to as high as $55.68 per share on July 25, 2014.