October 14, 2014 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Angies List Inc (NASDAQ:ANGI), was announced concerning whether a potential takeover of Angies List Inc would be unfair to NASDAQ:ANGI stockholders.
The investigation by a law firm is at an early stage and concerns whether a takeover would be unfair to NASDAQ:ANGI investors.
On September 30, 2014, rumors surfaced that Angies List Inc held conversations with prospective buyers but an Angies List Inc spokeswoman reportedly said the company had no comment because it does not respond to 'rumors.
However, the investigation by a law firm concerns whether the Angies List Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Angie's List Inc reported that its annual Total Revenue rose from $155.80 million in 2012 to $245.64 million in 2013 and that its respective Net Loss declined from $52.89 million to $32.99 million.
Shares of Angie's List Inc (NASDAQ:ANGI) reached as high as $28.00 per share in July 2013 and at least one analyst has set the high target price for NASDAQ:ANGI shares at $26.00 per share.