Kaskela Law LLC Announces Investigation of Telenav, Inc. (TNAV) Following Acquisition Agreement

Rhea-AI Summary

Kaskela Law LLC is investigating Telenav, Inc. (NASDAQ: TNAV) on behalf of its stockholders following Telenav's announcement of a merger agreement with V99, Inc. on November 3, 2020, at a price of $4.80 per share. The investigation seeks to ascertain if this price reflects adequate consideration for Telenav's shares and whether there were any violations of securities laws or breaches of fiduciary duties by Telenav's officers or directors. After the acquisition, Telenav's shares will cease to be publicly traded.

Positive

• None.

Negative

• Investigation into whether $4.80 per share is adequate consideration for Telenav's shares may create uncertainty among investors.
• Potential for legal challenges if fiduciary duties are deemed violated, which could affect stockholder confidence.

PHILADELPHIA, Nov. 9, 2020 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating Telenav, Inc. (NASDAQ: TNAV) on behalf of the company's stockholders. 

On November 3, 2020, Telenav announced that it had entered into a definitive merger agreement to be acquired by V99, Inc. at a price of $4.80 per share.  Following the closing of the proposed acquisition, shares of Telenav's stock will no longer be publicly traded.

The investigation seeks to determine whether $4.80 per share represents adequate consideration for Telenav's shares, and whether Telenav's officers and/or directors violated the securities laws or breached their fiduciary duties in agreeing to sell the company to V99, Inc.

Telenav stockholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or online at http://kaskelalaw.com/case/telenav-inc/, to receive additional information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. 

CONTACT:

D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Boulevard, Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
skaskela@kaskelalaw.com

This notice may constitute attorney advertising in certain jurisdictions.

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SOURCE Kaskela Law LLC

FAQ

What is Kaskela Law investigating regarding Telenav (TNAV)?

Kaskela Law is investigating Telenav following the announcement of its merger agreement with V99, Inc. to determine if the acquisition price of $4.80 per share is adequate and if there were any breaches of fiduciary duties.

When did Telenav announce its merger agreement?

Telenav announced the merger agreement on November 3, 2020.

What will happen to Telenav's stock after the acquisition?

After the acquisition, Telenav's shares will no longer be publicly traded.

What is the price per share for the acquisition of Telenav?

The acquisition price for Telenav is set at $4.80 per share.